KABUL (SW) – The Afghanistan Central Bank/ Da Afghanistan Bank (DAB) has announced that in order to maintain and stabilize the value of the Afghani currency, it will auction 25 million US dollars on Monday, January 27.
This move comes as the exchange rate of the US dollar continues to rise, with 1 dollar now valued at 75.58 afghanis on Sunday.
However, some news agencies, citing their sources ‘Sarai Shahzada’ currency exchange market in Kabul, have reported that the currency has since exceeded 80 afghanis.
The bank also auctioned 20 million US dollars on Saturday, January 25.
The DAB, under the Islamic Emirate, has asked eligible banks and exchange and money services companies to participate in this tender.
The Afghanistan central bank has said that the winners of the auction are obliged to clear their accounts by the end of the auction day.
“Partial settlement of transactions is not allowed in currency auction bids. The winners of the tender are obliged to deliver the money owed to Da Afghanistan Bank/Afghanistan Central Bank in cash once within a certain period.”
The bank has previously sold millions of dollars through similar auctions in order to maintain and stabilize the value of the Afghani currency.
