Afghanistan’s central bank sells 14 mln USD to keep local currency stable

Afghanistan’s central bank Da Afghanistan Bank (DAB) sold 14 million U.S. dollars by auction on Wednesday to stabilize the exchange rate of the national currency afghani, the bank’s statement here said.

The afghani has been tumbling against foreign currencies, especially the U.S. dollar, over the past couple of months.

The exchange rate of one dollar increased from last week’s 87.60 afghani to 87.98 afghani on Wednesday.

Afghanistan’s central bank has injected millions of U.S. dollars into the country’s money-exchange market over the past month to prevent the fall of the afghani against foreign currencies.

Afghanistan has received more than 2 billion dollars in cash over the past 18 months as part of the international community’s humanitarian aid to prevent the economic collapse of the cash-strapped country.