Afghanistan: the currency collapses with the return to power of the Taliban

The Afghan, the Afghan currency, tumbled against the dollar on Tuesday as the Taliban’s rise to power destabilized the country and pushed the central bank governor to leave Afghanistan.

Precisely, this Tuesday, August 17, 86 Afghans were needed to buy a dollar, where only 80 were needed last Friday, a drop of more than 6%, according to a compilation by the Bloomberg agency.

That same day, the Afghan central bank, Da Afghanistan Bank, learned that “dollar deliveries were interrupted,” increasing concern in the local market, its governor Ajmal Ahmady said on Twitter. Since the arrival of the Taliban, the latter has also left Afghanistan, like its now former president Ashraf Ghani.

The fall in the exchange rate of the Afghan currency a priori will make the cost of imported products higher.

The new Afghani was created in 2002, a year after the launch of the US military campaign that had driven the Taliban from power.

Before that, due to the volatility of the Afghan, Afghans favored dollars and Pakistani rupees.

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