KABUL, Afghanistan — The Taliban-controlled central bank announced plans to auction $20 million on Saturday, January 25, as part of an effort to stabilize the Afghan currency.
In a statement, the bank called on eligible money exchange companies and financial service providers to participate in the bidding process.
The announcement comes amid a steady decline in the value of the Afghan afghani against the U.S. dollar in recent weeks.
The bank has frequently used dollar auctions to prop up the local currency. While the measure is aimed at maintaining monetary stability, economic analysts caution that such interventions offer only temporary relief and do not address underlying structural issues in Afghanistan’s fragile economy.
Over the past month, the value of the U.S. dollar against the Afghan afghani has risen from 70 afghanis to 76 afghanis.
