The Kabul times, Afghanistan Trustable News Agency.
Editorial

More needed to stabilize national currency

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The country’s national currency, Afghani, is regaining its stability, after worrying steep against U.S. dollar over the past few weeks.
The unprecedented drop in Afghani’s value affected all edible items and fuel prices all over the country, which has become unaffordable for ordinary citizen, especially as harsh winter has arrived.
Aid supplies from the international community, including some neighboring countries (however highly welcomed by the Afghan nation), did nothing to avoid the sky-rocketing food prices.
But, soon after receiving order from the office of the deputy prime minister of the Islamic Emirate on economic affairs, Da Afghanistan Bank (DAB), the country’s central bank stepped up to hold an extraordinary meeting to address the problem of sharp rise in U.S. dollar value against local currency and control the prices of foodstuff and fuel.
Following the stunning spike in U.S. dollar price, the meeting resolved that all transactions with foreign currencies would be forbidden.
Following the economic meeting, Saray-e-Shahzada, the country’s capital Kabul’s main money exchange center was temporary closed and money vending along some streets were prevented.
The meeting, highly helping the U.S. dollar price to come under control, laid positive impacts on the whole prices, including edible and non-edible items.
A U.S. dollar is now being exchanged for afghani 95, while it was traded for around 130, last week, a rapid surge that concerned both the people and the government.
The prices of flour, rice, cooking oil etc. are now slightly reasonable. But the most important step to put an enduring end to the current monetary problem, all Afghanistan’s frozen assets should be released besides recognition of the Afghan government and continuation of international humanitarian aids and resumption of all foreign political and economic missions in the country.
If the world wants to truly cooperate with Afghanistan to reach a stable, sustainable and powerful economy, it should help it invest in mining and the exploitation of its abundant underground treasures, since inclusive security is now restored and the atmosphere for the resumption of work on the mining sector is provided.
As the country’s minister of foreign affairs stated ‘a weak Afghanistan benefits no one’ so, the international community should not ignore the fact.
The world stability would be ensured through a politically and economically strong and peaceful Afghanistan, under the leadership of the Islamic Emirate, as well as preventing flow of migration, drug trafficking and the influence of other militant groups.

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The Kabul times, Afghanistan Trustable News Agency.