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Currency

The Taliban have yet to decide on the currency for trade

PESHAWAR: Afghan traders are finding it difficult to continue trading due to the lack of foreign currency, as the international community withheld the assets of the Da Afghanistan bank after the Taliban took Kabul on August 15.

On the other hand, the Taliban have yet to decide which currency should be used for trading, which has created new problems for traders. The dollar exchange rate in Afghanistan has fluctuated.

The Pakistani government has announced that it will trade with Afghanistan in Pakistani rupees, while the Taliban said in a statement on their social media that all major and minor trade transactions in Afghanistan will be done in Afghan currency.

Afghan traders rejected Pakistan’s decision to conduct business transactions in Pakistani currency.

The article continues after this announcement

The Afghan Taliban have said that the country’s identity is more important and that no decision will be made that undermines the interests of the Afghan nation.

However, no new mechanism has been formulated for trade and other business activities. In addition, Afghanistan and Pakistan have yet to announce an official policy of mutual trade and transit between the two countries.

According to sources, after the Taliban took control of the banking system in Afghanistan, it is difficult for traders to exchange dollars because the current banking system is closed.

Finance Minister Shaukat Tarin told the Standing Committee that it had been decided to conduct trade between Pakistan and Afghanistan in Pakistani rupees.

Tarin told the Standing Committee on Finance that there is a shortage of dollars in Afghanistan after the international community seized its assets. But the

Pakistan has also called on the world to unfreeze Afghanistan’s accounts as this may trigger a humanitarian crisis.


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Ruben V. Albin

The author Ruben V. Albin