- Breaking News - Original Reporting - News Analysis

Kabul residents struggle due to rising value of dollar against Afghan currency

KABUL

The Taliban takeover and deteriorating economy, a number of Kabul residents expressed concerns over the rising value of the dollar against Afghan currency, local media reported.

According to the residents, the depreciation of the Afghan currency against the dollar has also increased the price of goods, leading to locals being unable to afford the groceries, Tolo News reported.

“Day-by-day the dollar is rising and the Afghan currency is losing its value in the market. As the value of the dollar rises against the Afghan currency, so does the price of basic food items,” Abdul Wahed, a Nangarhar resident told Tolo News.

“The dollar has risen and this is to the detriment of the people because everything is bought in dollars. Unemployment and the rise of the dollar prices prevents people from buying anything,” said Ahmad Shoiab, a Kabul resident.
Meanwhile, the Taliban spokesperson said that the value of the dollar has risen not only in Afghanistan but also in the world markets as well, Tolo News reported.

“We will take effective steps to maintain the exchange rate in Afghanistan and try to keep the value of Afghan currency,” said Zabiullah Mujahid, spokesman for the Islamic Emirate.

The Kabul money exchangers union said that a few weeks ago the Central Bank invested USD 2.5 million dollars into the market but this did not stop the depreciation of Afghan currency against foreign currencies, Tolo News reported.

“We request of Da Afghanistan that the markets not be closed so that the Afghan currency loses its value,” said Haji Zirak Zirak, the spokesperson of the money exchangers union in Kabul.

The Taliban entered Kabul on August 15, causing the US-backed government to step down. Later in September, the outfit announced the composition of the new interim government of Afghanistan.

The country is currently battered by the deepening economic, humanitarian, and security crisis following the Taliban takeover. The international community, from governments to non-governmental organizations, has been providing various assistance to the Afghan people.

Leave A Reply

Your email address will not be published.