KABUL, July 5 — The Da Afghanistan Bank (DAB), Afghanistan’s central bank, will auction up to 16 million U.S. dollars on Monday as part of its ongoing efforts to support the stability of the national currency, the afghani, the central bank said in a statement on Sunday.
According to the statement, commercial banks and eligible foreign exchange and money service companies have been invited to participate in the auction.
Successful bidders will be required to settle their accounts by the end of the auction day. The afghani has weakened against major foreign currencies, particularly the U.S. dollar, over the past two weeks.
The exchange rate stood at about 63.9 afghanis per U.S. dollar last week, compared with around 65.77 afghanis in local exchange markets on Sunday.
In recent months, Da Afghanistan Bank has regularly injected millions of U.S. dollars into the foreign exchange market through auctions to help curb the depreciation of the afghani and maintain exchange rate stability. (Namibia Daily News / Xinhua)
