Afghanistan’s central bank sells $14 mn to keep local currency stable

Kabul, April 30 : Afghanistans central bank Da Afghanistan Bank (DAB) sold $14 million by auction on Sunday to stabilise the exchange rate of the national currency afghani, the bank said in a statement released here on Sunday.The local currency afghani has been tumbling against foreign currencies, especially the US dollar, over the past couple of months.

The exchange rate of 1 US dollar increased from last weeks 86 afghani to 87.15 afghani on Sunday, Xinhua news agency reported.Afghanistans central bank has injected millions of US dollars into the countrys 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 communitys humanitarian aid to prevent the economic collapse of the cash-strapped country.int/svn/ #Afghanistans #central #bank #sells #currency.