The Taliban-led Central Bank of Afghanistan announced on Thursday that more than 7.18 billion Afghanis worth of worn-out banknotes were destroyed over the past year. Sediqullah Khalid, the first deputy of the Central Bank, shared the news during a press conference on September 5.
Khalid stated that a total of 70.18 billion Afghanis in damaged currency had been burned as part of efforts to maintain the currency’s stability. He also claimed that the Afghani has strengthened, appreciating 17.25% against foreign currencies in August 2024 compared to the same month the previous year.
Officials from the Taliban-run Central Bank further asserted that the Afghani is now considered the third most stable and valuable currency in the region.
Additionally, the bank has increased withdrawal limits for customers. The weekly limit for Afghani savings accounts has risen from 70,000 Afghanis to 150,000 Afghanis, while the monthly limit has been doubled to 500,000 Afghanis. For U.S. dollar accounts, the weekly limit has increased from $1,000 to $2,000, and the monthly limit from $3,000 to $6,000. Bank officials indicated that further easing of banking restrictions is expected through future political decisions.
The Central Bank, currently led by Noor Ahmad Agha, a U.N.-sanctioned member of the Taliban, has also issued 149 new licenses for major exchange offices and money service companies, bringing the total number of licensed institutions to 1,780.
Noor Ahmad Agha, also known as Ahmad Zia Agha, has been a key figure within the Taliban’s financial apparatus since the group’s takeover in 2021. According to research by the Middle East Institute, Agha has played a critical role in managing funds for military operations, including the allocation of money for explosive devices, and has overseen financial support for Taliban commanders across Afghanistan and the region.
