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Afghani rises against dollar, thanks to DAB move

Afghani rises against dollar, thanks to DAB move

Sep 03, 2015 - 19:05

KABULinfo-icon (Pajhwok): The Afghan currency rose against the US dollar and the Pakistani rupee at the weekend, when flour, ghee and Russian gold prices fell in in Kabul, retailers said on Thursday.

The afghani appreciated against the dollars during the outgoing week, moneychanger Haji Abdul Rahim said, adding the buying rate of the greenback was 62.70afs and 1,000 Pakistani rupees 600afs.

He cited the purchase of $40 million from the open market by Da Afghanistaninfo-icon Bank and a reductionin withdrawals from banks the main reasons for the rising value of the afghani.

Last week's exchange value of the dollar stood at 65.10afs and 1,000 Pakistani rupees at 619afs, the moneychanger recalled.

Food Traders Union head Fazal Rahman acknowledged the central bank's also move led to a drop in food prices. A 50 kilogram sack of Pakistani flour sold for 1,320 afs compared to last week's price of 1,370 afs.

A 16 kg tin of Momin ghee sold for 990 afs against last week’s rate of 1040 afs. A 49-kilogram bag of Pakistani sugar went up to 1760afs from 1740 afs. The price of a 24 kg bag of Pakistani rice remained stable at 1650 afs.

Likewise, the prices of tea remained unchanged. A kilo of green tea accounted for 210 afs and the same amount of African black tea for 240afs, said a dealer in the Kabul food market, Ahmad Javed.

But wholesale prices varied from retail rates in some parts of the city. Ahmad Omaid, a shopkeeper in the Dahn-i-Bagh locality, sold a 24-kg sack of rice for 1,850afs, a 49-kg bag of sugar for 1,800afs and a 50-kg sack of flour for 1,380afs.

Mohammad Fawad, a jeweller in Timor Shahi neighbourhood, said the value of one gram of Russian gold fell from 1,700 afs to 1,650 afs. The price of the Arabian variety was 2150 afs, the same as last week’s.

The price of diesel remained stable at 43afs while a litre of petrol edged from 42afs to 40 afs, said a worker of a filling station in Qala-i-Fathullah locality, Obaidullah.

Mohammad Sharif, a retailer, sold a kilogram of gas for 50afs -- the same price as last week’s rate.



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