Afghan currency dives on Taliban takeover

By: AFP      Published: 10:48 PM, 17 Aug, 2021
Afghan currency dives on Taliban takeover

Afghanistan's currency slid Tuesday after the Taliban swept back into power and prompted its central bank governor to flee. The unit sank to 86 Afghani per US dollar in Tuesday afternoon deals, according to Bloomberg data.

That marked a six percent decline from last Friday, when it had stood at 80 Afghani per dollar.

Afghanistan's central bank governor Ajmal Ahmady revealed Monday that it stopped receiving dollar deliveries on Friday.

Until that point, the Afghani currency had been relatively stable despite the Taliban's lightning advance.

"Currency spiked from a stable 81 to almost 100 then back to 86," Ahmady tweeted in reference to recent volatile price action.

"I held meetings on Saturday to reassure banks and money exchangers to calm them down.

"I can't believe that was one day before Kabul fell."

Taliban fighters took the capital on Sunday in a stunningly swift end to Afghanistan's 20-year war.

In just ten days, the Taliban seized city after city without resistance following the withdrawal of Western troops.

Ahmady also revealed Monday that he had left Kabul airport on Sunday night on a military plane, following news of the departure of President Ashraf Ghani.

Categories : South Asia