The Da Afghanistan Bank (DAB), the central bank, has decided to auction 16 million U.S. dollars as part of the country's efforts to stabilize the exchange rate of the national currency on Sunday, the central bank said in a statement on Saturday.
Afghanistan's currency, the afghani, has been tumbling against foreign currencies, especially the U.S. dollar, over the past couple of weeks. The exchange rate of 1 U.S. dollar was 69.9 afghanis last week, while it was 73.4 afghanis in local exchange markets on Saturday.
In the past few months, the central bank has injected millions of U.S. dollars into the country's exchange markets in a bid to curb the depreciation of afghani against foreign currencies.
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