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Afghani recovers against dollar, gold, flour prices up

Afghani recovers against dollar, gold, flour prices up

Feb 25, 2016 - 18:17

KABULinfo-icon (Pajhwok): The Afghan currency regained some value against the US dollar during the outgoing week that saw prices of Arabian gold and flour increasing in Kabul, market sources said Thursday.

Ongoing insecurity, decreasing foreign aid and capital flight are said to be responsible for the Afghan currency’s depreciation against the US dollar during the past few weeks.

Amin Jan Khostai, a moneychanger in Shahzada Sarai in Kabul city, said the buying rate of one US dollar this week was 68.70 afghanis and 1,000 Pakistani rupees 644 afghanis. Last week's exchange value of the dollar stood at 69.70afs and 1,000 Pakistani rupees at 648afs.

Khostai said the value of afghani remained always changing and was unfortunately losing the buying value with the passage of time.

Three days earlier, Da Afghanistaninfo-icon Bank (DAB) said insecurity, high amount of imports and less exports, withdrawal of foreign forces from Afghanistan, decrease in foreign aid and fleeing of around 250 Afghans to foreign countries were main reasons affecting the value of Afghan currency.

The DAB said it had offered $100 million to the market to keep the afghani from losing its value during the past one month and planned to offer $200 to $300 million more to the market next month.

In retail market, the price of only flour increased but that of ghee edged down during the outgoing week.

Food traders union head Fazal Rahman said 49 kilograms of Kazakh flour cost 1,200afs and 24kg of Pakistani sugar cost 1,650afs. However, the price of 49kg of Pakistani flour increased from 1,810afs to 1,830afs during the outgoing week, he said.

A 16-litre of Momin ghee was sold for 960afs, a kg of Madina green tea for 220afs and the same quantity of African black tea for 240afs, the same prices as of last week’s, he said.

But a retailer in Mirwais Maidan area, Abdul Matin, sold a 49-kg bag of flour for 1,350afs, a 49-kg sack of sugar for 1,950afs and a 24-kg bag of rice for 1,800afs.

He sold a 16-litre tin of Momin ghee for 1,000afs, a kilo of African black tea for 260afs and the same quantity of Madina green tea for 250afs -- higher than wholesale prices. The rate of 16 liter of Momin ghee accounted for 1,050afs last week.

Mohammad Fawad, a jeweller in Timor Shahi neighbourhood, said the price of Arabian gold has increased. He said the price of one gram of Arabian gold jumped from 2,200afs to 2,250afs while the price of same quantity of the Russian variety stood at 1,800afs.

Abdul Hadi, a filling station worker in Wazirabad locality, said a liter of petrol was sold at 39afs and the same amount of diesel at 33afs, the same prices as last week’s.

Mohammad Sharif, a liquefied gas seller in Kolola Pushta neighborhood, sold a kilogram of gas for 40afs, the same rate as last week’s.

Per 560 kilograms of unpeeled oak was sold for 6,400afs and the same quantity of cedar for 6200 afs, said a firewood stall owner in Charah-i-Shaheed locality, Khan Mohammad.



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