Rupee falls to all-time low against US dollar
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
Afghanistan’s central bank Da Afghanistan Bank (DAB) sold $14 million by auction on Sunday to stabilise the exchange rate of the national currency afghani, the bank said in a statement released here on Sunday.
The local currency afghani has been tumbling against foreign currencies, especially the US dollar, over the past couple of months. The exchange rate of 1 US dollar increased from last week’s 86 afghani to 87.15 afghani on Sunday, Xinhua news agency reported.
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Afghanistan’s central bank has injected millions of US dollars into the country’s money-exchange market over the past month to prevent the fall of the afghani against foreign currencies.
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Afghanistan has received more than 2 billion dollars in cash over the past 18 months as part of the international community’s humanitarian aid to prevent the economic collapse of the cash-strapped country.
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