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Afghan central bank's gross reserves rise to $9 billion

31 May 2020 1TV News

Afghan central bank has said that its gross currency reserves have crossed $9 billion mark for the first time.

It shows an increase of nearly $500 million as compared to last year when it was around $8.5 billion.

The increase is due to effective investment by market operations committee in international banks and major financial firms.

According to the bank's data, Afghanistan has invested more than $7 billion in major financial institutions and profits from the investment.

The central bank noted that the increase in gross reserves happened despite reduced international aid and coronavirus crisis.

Some economic experts believe that using reserves in the fight against coronavirus would increase inflation and commodity prices.

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