Afghanistan’s central bank to auction $17 million this week

Da Afghanistan Bank (DAB) has announced that it will auction $17 million on Wednesday as part of the efforts to stabilize the value of the Afghan currency against foreign currencies.

In a series of tweets on Monday, the Central Bank of Afghanistan asked qualified private banks and exchange companies to participate in the auction.

The winners of the auction are obliged to settle their accounts by the end of the day. As per the announcement, partial settlement of transactions is not allowed and the winners of the auction are obliged to transfer the payable amount to the central bank in cash within a certain time.

This is the second time in a week the central bank is auctioning US dollars to keep the value of Afghani stable.

The exchange rate was 90 AFN to the US dollar on Monday, February 6, 2023. The central bank sold $16 million on Sunday.