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DAB to Auction $11m to Strengthen National Currency

KABUL (BNA) Afghanistan’s central bank to auction 11 million U.S. dollars into the local market in a bid to strengthen the national currency, afghani, Da Afghanistan Bank (DAB) said on Sunday.

In a statement to BNA Da Afghanistan Bank, was requesting all eligible banks, foreign exchange, and monetary service providers to participate in the auction scheduled on Monday.

“In auction bids, partial settlement of currencies is not allowed and the winners of the auction must deposit to Da Afghanistan Bank their money at one time in cash,” the statement said.

Last week, the central bank vended $13 million worth of dollars to maintain the Afghani value against dollars.

Meanwhile, the money market in Kabul announced on Sunday the exchange rate of one US dollar against 89:00 Afghanis in the market.

W/A

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