Afghanistan central bank to inject $12 mn to stabilise local currency

Afghanistan's central bank announced that it would further inject $12 million into the local market to boost the national currency, afghani.

The Da Afghanistan Bank (DAB) said in a statement that it was requesting all eligible banks and monetary service providers, among others, to participate in the auction scheduled for Wednesday, reports Xinhua news agency.

"In auction bids, partial settlement of currencies is not allowed and the winners of the auction must deposit in the Da Afghanistan Bank their money at one time in cash," the statement said.

The US dollar has depreciated against afghani compared with a couple of weeks ago.

The DAB conducted auctioning of $12 million late in April.

Since the Taliban's takeover of Afghanistan in August last year, the US has frozen more than $9 billion of assets of the central bank, thus undermining the banking system of the war-torn country.

--IANS

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