The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Da Afghanistan Bank, the country’s central bank, is selling $10 million dollars to support the currency which has been tumbling to record lows, the first such auction under the new Taliban regime.
The central bank, in a statement, said qualified banks and currency exchangers can participate in the bidding, without providing any details on when the results of the auction are expected.
The auction is happening as the country’s banking system remains under severe strain following the the US move to freeze some $9 billion of assets held outside the country on concerns about the regime’s continued links with terrorism and human rights abuses and its failure to form an inclusive government.
The Afghani falls 2.7% to a record low of 93.89, according to Bloomberg data.