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Afghani Value Falls Against Dollar As US Slashes $1bn in Aid

24 Mar 2020 Wadsam Afghanistan Business News

Afghani currency takes a dip against US dollar following the US government’s decision to slash $1 billion in aid to Afghanistan.

The announcement was made by US Secretary of State Mike Pompeo on his unannounced trip to Kabul, where he held meetings with Afghanistan’s rival leaders.

The Afghani currency dropped to 77 against the US in Sarai Shahzada Market, Afghanistan’s largest informal financial institution in Kabul.

Pompeo declared in frank language that Washington was “disappointed” in the rival leaders’ failure to break the deadlock that has persisted since September’s election and form a government.

Pompeo’s statement said the U.S. “deeply regrets” that Ghani and Abdullah have said “that they have been unable to agree on an inclusive government that can meet the challenges of governance, peace, and security, and provide for the health and welfare of Afghan citizens.”

To see how Afghani fares against other currencies click here.

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