The Afghan Currency Drops Has Worried Afghans

Date: Jul 07, 2021, 10:41

Economic experts say the insecurity caused by the foreign troop withdrawal is one of the main reasons behind the fall in value of the Afghan currency.

As the Afghani currency fell against the dollar and other foreign currencies in the last 24 hours, Kabul residents are worried about the rise in prices of essential goods in markets, saying it is hard for them to afford these increases.

In the last 24 hours, the value of the Afghani has fallen by two Afghanis against the dollar in the country's forex markets. 

At the Sarai Shahzada exchange market in Kabul, one US dollar is currently being exchanged for over 81 Afghanis and 50 cents. Two days ago, one US dollar was exchanged for 79 Afghanis and 40 cents. 

Before the beginning of the withdrawal of foreign forces from Afghanistan on May 1, one dollar was exchanged for about 77 Afghanis, which shows the currency value has gone down by 4 Afghanis against the US dollar in the last two months. 

“The fall of districts to the Taliban directly impacts the value of the Afghani, also the foreign troops' withdrawal, especially Americans, drops the value of the Afghani currency,” said Mir Afghan Safi, head of the Sarai Shahzada Money Exchangers’ Union. 

Nangyalai, a grocer in Kabul, said: “It is all because of the current insecure situation. Secondly, all of the ports (dry ports) are closed as the Taliban has captured them.” 

The unexpected rise in the value of the dollar against the Afghani has raised concerns among Afghan citizens. 

Economic experts say the insecurity caused by the foreign troop withdrawal is one of the main reasons behind the fall in value of the Afghan currency.

Experts called on the government to implement necessary programs for the improvement of the business and investment opportunities in the country. 

 



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