Da Afghanistan Bank (DAB) states it will auction $16 million on Saturday, aimed at keeping the value of the country&& s currency stable in the market against foreign currencies.

Da Afghanistan Bank likewise referred to as the Central Bank of Afghanistan auctioned $17 million on February 27, and $15 million on February 23, as part of the constant efforts to keep the worth of Afghani steady against foreign currencies.The bank has asked certified private banks and exchange business to take part in the auction, which is set up to be hung on Saturday, March 4.

According to DAB, the winners of the auction are required to liquidate their accounts by the end of the day.

According to the statement, partial settlement of deals is not permitted and the winners of the auction are obliged to move the payable total up to the reserve bank in money within a specific time.

The currency exchange rate of one USD is revealed to 89 Afghanis as of yesterday, March 2, 2023.

Given That the Islamic Emirate took control of the nation in August 2021, the worth of Afghani has actually remained fairly stable, which is considered a favorable indication for the war-torn country with an economy mainly dependent on foreign aid.A number of economists on the other hand think that one of the main reasons behind Afghani&& s stable worth is the inflow of dollars to Afghanistan in the type of global humanitarian help, which pleases the demand of the marketplace to some extent.The post DAB to auction $16 million on Saturday initially appeared on Ariana News.