Afghanistan’s Central Bank to Inject 25 Million USD to Stabilize Afghani

Kabul: Afghanistan's central bank announced that it will inject 25 million U.S. dollars on Monday in a bid to maintain the stability of the national currency, the afghani. "The bidders, including moneychangers and private banks, should deposit the necessary money in cash in the form of afghani in the central bank Da Afghanistan Bank," the central bank said in a statement posted on social media Sunday. According to Namibia Press Agency, over the past month, the bank has injected millions of U.S. dollars into the nation's currency exchange market to stabilize the afghani and prevent its decline against foreign currencies. The bank also auctioned 20 million U.S. dollars on Saturday. In recent weeks, the afghani has experienced a depreciation against the U.S. dollar. Currently, the exchange rate stands at about 80.50 afghani for one U.S. dollar, compared to about 69.30 afghani a month ago.