Concerns About Rising Dollar Smuggling Out Of Afghanistan: Kandahar Money Changers
Kandahar money changers said that recently, most of their customers are buying US dollars in exchange for Pakistani rupees.
A number of money changers in Kandahar said they see an increase in smuggling of US dollars out of Afghanistan to some neighboring countries, mainly Pakistan, alarming that it will further affect the fragile economic situation in the country if it continues.
They said that "millions of Pakistani rupees" are brought in to Kandahar from Pakistan and are exchanged to US dollars and are taken back to the neighboring country.
The money changers said the demand for the US dollar is increasing in the market and that most of their customers buy the US currency by selling Pakistani rupees.
They said newly imposed restrictions on dealings involving the US dollars in Pakistan have caused an increase in the smuggling of dollars out of Afghanistan to the neighboring country.
Before the collapse of the former government, Afghanistan’s Central Bank used to inject US dollars to the local markets to ensure the stability of afghani. Recently, amidst a pause in international community's support to Afghanistan, the value of afghani is descending against the dollar.
UNDP Afghanistan has found that decades of mining without a clear vision has done little to reduce poverty but has instead helped insurgent...
Security officials in Balkh province say the head of the province's money exchangers' union has been abducted by unknown individuals....
In connection with the abduction of Alhaj Mohammad Ismail (Mohammadi), a member of the board of directors of the Money Exchangers' Union, who was a...
Share this article: