INSUBCONTINENT EXCLUSIVE:
Billions of US dollars, flowing into Afghanistan, in the form of cash aid, is helping to stabilize the local currency so much that the AFN
has been propelled to the top of the global rankings this quarter.According to America&s Bloomberg news agency, the afghani (AFN) has
maintained its value against foreign currencies, especially the US dollar, on the back of the cash aid and other factors.Additional actions
are also helping to stabilize the currency including the Islamic Emirate&s ban on the use of Pakistani rupees and US dollars on the local
market, and an increase in cross border trade, Bloomberg reported.Currently, the AFN is trading at just under 80 afghanis to the dollar.The
international community has shipped in on over $40 million dollars a week since the fall of the former government
This money is handled by the UN and used for aid in the country.Bloomberg reported however that the cash aid and increased trade with
Afghanistan&s neighbors has propelled Afghanistan&s currency to the top of global rankings this quarter — an unusual spot for a
poverty-stricken country.The IEA&s tight restrictions on taking dollars out of the country, banning online trading and imposing prison
sentences on those who break the rules, have also contributed to this stability, Bloomberg reported.The post Foreign cash aid and tight
restrictions on afghani helps ‘stabilize& local currency first appeared on Ariana News.
