The Financial Express

Afghan currency plunges to record low against dollar

| Updated: December 16, 2021 22:45:19

File photo used for representational purpose. (Collected) File photo used for representational purpose. (Collected)

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 US 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, reports Xinhua.

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 9.0 billion US 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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