Afghan currency in record devaluation amid economic woes

0 Comment(s)Print E-mail Xinhua, December 14, 2021
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Afghanistan's national currency, the afghani, has dropped further recently amid economic woes, causing grave concern among the Afghan people.

The afghani was traded at 112.60 for one U.S. dollar on Monday, according to figures provided by Da Afghanistan Bank, the country's national bank.

On Sunday, the exchange rate was 106.12 while the rate was 103.66 on Saturday, a continued shocking devaluation.

At the beginning of 2020, the afghani was traded at some 76 for one dollar, and at 77 in this January, 81 in July and 90 in mid-August.

After the Taliban's takeover in mid-August, the Afghan economy has suffered from the U.S. freezing of over 9 billion U.S. dollars in assets belonging to the Afghan central bank, and a halt in funds by the World Bank and the International Monetary Fund.

The rapid devaluation of the afghani has caused a skyrocketing rise in essential items prices.

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