Officials of Afghanistan’s central bank said Wednesday the Afghani (AFN) has in the past year strengthened by 4.4 percent against the US dollar.
Hidayatullah Badri, the acting head of the central bank, Da Afghanistan Bank, said during his national accountability report bank customers across the country can now withdraw up to $600 a week and $2,000 a month from their bank accounts.
“The officials of the Da Afghanistan Bank have been able to preserve the value of the Afghan currency by implementing reasonable policies. Da Afghanistan Bank has made great efforts in the banking sector to improve banking services, and is actively working for Islamic banking in the country,” Badri said.
According to the officials of the bank, the average inflation rate in the country has decreased from 12% to 6%.
“Fortunately, Da Afghanistan Bank managed well [considering] the limited access it had to currency reserves and met the market’s currency needs,” Ahmad Javad Sedad, head of the monetary policy of Da Afghanistan Bank, said.
DAB officials said that assessments of banking institutions, money exchanges and companies are ongoing with the aim of standardizing the sector.
“From now on, exchange companies will perform their activities for citizens through electronic systems and according to international standards,” Ahmed Zahir Nasirzai, head of non-banking financial institutions department said.
Officials of Da Afghanistan Bank also said that the institution is planning to continuously collect worn-out banknotes in the country and replace them with new ones. This comes as citizens have repeatedly complained about the availability of worn-out banknotes in the markets.