The value of Afghani against the dollar and other foreign currencies has been declining in the last two weeks, the money exchangers union said, adding that one dollar is exchanged for nearly 90 Afs in local markets.
Two weeks ago, $100 was exchanged for 8,880 Afs, but now it is exchanged for 9,000 Afs, according to money changers.
Abdul Rahman Zirak, the spokesman of the money changers’ union in Sarai Shahzada Forex Market, said the value of Afghani was falling against the dollar but the arrival of $40 million cash aid to the country on Wednesday, Feb. 7, helped it to remain a bit stable.
“It happens due to lack of dollars in the market. It becomes a bit stable when humanitarian cash aid arrives,” he said.
As of Wednesday of this week, each dollar was being sold for 90.40 Afs, but after the arrival of the aid package, the value of the Afghani increased, and now each dollar is exchanged for 89.70 Afs.
A political expert said that political problems, especially the closure of Saudi Arabia’s embassy in Kabul, left negative impacts on the value of Afghani.
But an economic affairs analyst said that the value of the Afghani currency is not real and that the value of the Afghani is kept constant by injecting dollars into the market.
Sayyed Massoud, an expert on economic issues, said that people’s situation also plays a vital role in the rise and fall of Afghani.
“Two main reasons have played a role in the decline of the value of the Afghani currency: First, the value of the Afghani is not a real value; it is an artificial value based on injecting currencies into the market and creating a suitable value at the request of the central bank, and the second is related to the value of the Afghani currency. It is based on the value of news, which means changes in the situation of society, which causes the value of the Afghani currency to go up or down,” he said.
Back in August 2021 after the fall of the previous government, Afghani lost its stability and each dollar was exchanged for 120 Afs against one dollar.
