DAB to Auction 16m USD on Wednesday

KABUL (BNA) Da Afghanistan Bank (DAB) said today that it will put in auction 16 million U.S. dollars Wednesday as part of efforts to keep the local currency Afghani stable.

The Central Bank has asked eligible banks and money changer services to participate in the tender, adding that the winners of the auction are obliged to settle their accounts by the end of the day.

Partial settlement of transactions is not allowed and the winners of the auction are obliged to deliver the money owed to Da Afghanistan Bank in cash once, within a certain time, the bank added.

This is the second time in a week that the central bank auctioning U.S dollars to further strengthen the value of the Afghani currency.

The exchange rate of one U.S. dollar has been announced at 89.75 Afghanis today, Tuesday.

Durani

Source: Bakhtar News Agency