Afghan Currency Value Increases 26.4 Percent in 2023
"The afghani has increased by 26.4 percent in 2023 compared to 2022, which is a great achievement for Da Afghanistan Bank," the local television channel Tolonews quoted Noori as saying.
The exchange rate of one U.S. dollar was 78 afghani before the fall of the U.S.-backed administration in August 2021, but the afghani began losing against the dollar as one U.S. dollar was changed up to 113 afghani and the price was tumbling for months in 2022.
However, since January 2023, the afghani has begun recovering and the exchange rate of one U.S. dollar now is 70 afghani.
Recovering the afghani against foreign currencies, especially the U.S. dollar, is the result of better monetary policies, using afghani in business and transaction, prevention of smuggling of foreign currencies, cutting unnecessary expenses at government departments, an increase in exports and initiation of development projects in the country, the official added.
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