Prices in Kabul Skyrocket Despite Rise of Currency Value

As the dollar continues to depreciate against Afghanistan’s currency in markets, sources at Kabul’s Sarai Shahzada say the dollar traded at 89 afghanis.

Sources in Sarai Shahzada, the largest currency exchange center in the country, say that one dollar was exchanged for 89 afghanis today, Saturday.

The dollar has been fluctuating against the afghani for the past three days.

Recent financial aid to the central bank is said to have affected exchange rates.

On the other hand, some citizens say that despite the depreciation of the US dollar against Afghanistan’s currency, the price of foodstuffs in the market is still high.

Mohammad Nasim, a resident of Baghlan province, told Hasht-e Sobh that the price of raw materials should also decrease as the dollar value decreases.

However, a UN official said the organization had $135 million in reserves with the Central Bank of Afghanistan, but could not use them because the bank was unable to convert them into afghanis.

Food and fuel prices are expected to fall as the dollar falls in the country’s markets. However, no changes in prices have been reported since last week, despite a significant drop in the dollar value against the national currency.

The post Prices in Kabul Skyrocket Despite Rise of Currency Value appeared first on Hasht-e Subh Daily.

Source: Hasht-e Subh Daily

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