INSUBCONTINENT EXCLUSIVE:
Afghanistan&s currency has weakened by seven percent against the US dollar over the past week, according to daily exchange rates released by
Da Afghanistan Bank (DAB).Last Sunday, one dollar was trading at 73.70 afghanis (AFN), but is now at 78.90 AFN.Acting Governor of Da
Afghanistan Bank Noor Ahmad Agha said on Sunday that the weaker afghani is not due to economic reasons and that there is no cause for
concern.In a meeting with the Money Changers Union, Agha said that the supply of currencies through the auction process in the capital and
provinces, the establishment of a special market for transparency and better regulation of currency exchange are among the important
measures that the bank is undertaking.He urged money changers to cooperate in preventing hoarding and smuggling of currencies, keeping
national interests in mind.Agha warned that legal action would be taken against violators.Dollar auctionDAB, the central bank, will
meanwhile said it will auction $25 million on Monday in order to stabilize the currency.In a statement issued by DAB, the bank urged all
money changers and money service centers to participate in the auction and to clear their accounts by the end of the day.Members of the
public have however raised concerns about prices of goods on the market increasing as a result of the weaker afghani.The post Afghani
weakens by 7% against US dollar in one week first appeared on Ariana News.
