Afghanistan's central bank to auction 12 mln USD to keep national currency stable

Dealers count cash at a money exchange market in Kabul, Afghanistan, on July 17, 2022. Afghanistan's central bank Da Afghanistan Bank announced Saturday that it would put on auction 12 million U.S. dollars on Sunday as part of the efforts to keep the national currency stable, the state-run Bakhtar news agency reported. (Photo by Saifurahman Safi/Xinhua)

KABUL, July 16 (Xinhua) -- Afghanistan's central bank Da Afghanistan Bank announced Saturday that it will put on auction 12 million U.S. dollars on Sunday as part of efforts to keep the national currency stable, the state-run Bakhtar news agency reported.

The bidders, including moneychangers and private banks, should deposit the necessary money in cash in afghani as guarantee in the central bank before the auction begins.

Afghanistan's national currency, the afghani, has been tumbling against foreign currencies, especially the U.S. dollar. The exchange rate of 1 U.S. dollar increased from last week's 88.10 afghanis to 88.40 afghanis on Saturday.

In similar efforts, the central bank auctioned 12 million dollars on June 20 and the same amount on June 27 to keep the national currency stable against foreign currencies. 

A dealer counts cash at a money exchange market in Kabul, Afghanistan, on July 17, 2022. Afghanistan's central bank Da Afghanistan Bank announced Saturday that it would put on auction 12 million U.S. dollars on Sunday as part of the efforts to keep the national currency stable, the state-run Bakhtar news agency reported. (Photo by Saifurahman Safi/Xinhua)

A dealer counts cash at a money exchange market in Kabul, Afghanistan, on July 17, 2022. Afghanistan's central bank Da Afghanistan Bank announced Saturday that it would put on auction 12 million U.S. dollars on Sunday as part of the efforts to keep the national currency stable, the state-run Bakhtar news agency reported. (Photo by Saifurahman Safi/Xinhua)