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Afghani falls to fresh low of 79 per US dollar

14 May 2019 1TV News

2019-05-14 | 2 minute ago

Afghanistan's currency crossed 79 against US dollar on Tuesday, the lowest ever mark against the greenback since 2001.

Some money changers said that smuggling of dollar to neighbouring Iran, which is facing acute shortage of dollars due to US sanctions, is the reason behind the problem.

The central bank, however, denies smuggling, saying dollar goes from Afghanistan to Iran only for purchase of imports.

Over the past one year, the value of afghani against dollar has declined by 9 afghanis.

Data from the bank shows that it had conducted auctions for 824 million US dollars over the past five months in bid to percent afghani’s depreciation.

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