KABUL (SW) – Officials at the Afghanistan Central Bank/ Da Afghanistan Bank (DAB), report that the value of the afghani currency has improved by 14.5% against the US dollar compared to last year.
Hasibullah Noori, spokesperson for the bank, said that the implementation of prudent policies, efforts to curb currency smuggling, growth in exports, and the initiation of national and regional projects have significantly contributed to the strengthening of the afghani.
“The central bank aims to stabilize domestic prices, and continually strives to protect the value of the afghani to achieve our primary objective of price stability. According to our data, the afghani has appreciated by 14.5% against the dollar,” he said.
According to the Economic Department of the Office of the Prime Minister of the Islamic Emirate, last year, 1$ was exchanged for 78.86 afghanis, while currently, one dollar trades for 68.88 afghanis.
Despite this notable increase in the value of the afghani, there has been little change in the prices of essential goods in the markets.
Economic analyst Taj Mohammad Talash emphasized that with the rise in the currency’s value, food prices must also decrease.
“Municipalities bear the responsibility to ensure that when the afghani gains value against foreign currencies, the prices of raw materials should trend downward,” he said.
Nematullah Barekzai, cultural advisor at the Kabul Municipality, noted that with the afghani’s appreciation against the dollar, food prices have indeed decreased.
“Certainly, these changes have been reflected in food prices. For the past four months, the dollar was at 70 afghanis, and now it is down to 68. When the dollar was at 78.80 afghanis, a sack of flour sold for 2,300 to 2,400 afghanis; now it is around 1,500 afghanis,” he explained.
According to the Sarai Shahzada currency exchange union in Kabul, as of Wednesday, October 2, 1$ has been trading for 68 afghanis and 65 cents.
