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Afghani Falls Against Dollar as US Announces Aid Reduction

02 Apr 2020 Tolo News

Money exchangers on Tuesday reported an increase in the dollar's value against the Afghani in local markets following the US announcement to reduce its annual assistance to Afghanistan by $1 billion this year.

The value of other foreign currencies also increased against the Afghani, according to money exchangers.

One dollar was sold for Afs76.2 on Monday, but was Afs76.9 on Tuesday.

“We talked to the Central Bank. They will inject dollars into the market on Wednesday to maintain the Afghani value,” said Haji Zeerak, a spokesman for the money exchangers union.

Kabul residents said they are concerned about the country’s political and economic situation.

“We have two presidents and our fate is unknown,” said Obaidullah, a Kabul resident.

“This is a poor nation. The dollar value increases one day and is decreased another day and now we are in an unknown political situation,” said Ziaulhaq, a Kabul resident.

Original Link: https://tolonews.com/index.php/business/afghani-falls-against-dollar-us-announces-aid-reduction

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