Govt Struggles With Plummeting Value of Afghan Currency
As the value of Afghan currency drops, officials said they were seeking ways to overcome the challenges.
Afgahn Voice Agency (AVA)_On Wednesday, the price of one was over 100 Afs.
The held a meeting with the union of money-exchangers of Sarai Shahzada.
“The Central Bank (Da Afghanistan Bank) attempted to avert the ,” said Haseebullah Noori, an official at Da Afghanistan Bank.
The union of money-exchangers said the large amount of Afs and scarcity of dollars in the market are reasons for the drop of the Afghan currency value.
“In the meeting of the Central Bank, they pledged to cooperate and drop the price of a dollar by 1.5 Afs,” said Mohammad Tahir Qayoumi, a member of the union.
The drop in value of the Afghan currency is undermining trade. The expressed concerns, saying that the merchandise that is imported is purchased by dollars.
“We are a country relying on imports. We import the materials, especially the food products, from foreign countries and the rise of the dollar will have a bad affect,” said Khan Jan , a member of the chamber of commerce and investment.
“The rise of the dollar price in return for Afs is having a negative impact on the country’s economy and it unfortunately doubles the economic crisis,” said Mohmmad Karim Azimi, head of the chamber of industry and mines.