Afghanistan Central Bank Auctions $16 Million To Stabilize Currency

The Da Afghanistan Bank, Afghanistan’s central bank, on Saturday auctioned off $16 million to help stabilize the Afghani, the national currency. This action was taken as the Afghani has been appreciating against foreign currencies, particularly the US dollar. Data from the bank showed a notable improvement in the exchange rate, with one US dollar decreasing from 73 Afghanis in March to 71.8 Afghanis in April. This auction follows a similar move two weeks prior, in which $15 million was auctioned with the goal of maintaining the strength of the Afghani.