Afghan Currency Registering Recovery In Money Exchange Market

The Afghan currency is registering recovery after losing value to Pakistan Rupee in money exchange market soon after take over of administration in Afghanistan by Taliban

PESHAWAR, (UrduPoint / Pakistan Point News - 26th Aug, 2021 ) :The Afghan Currency is registering recovery after losing value to Pakistan Rupee in money exchange market soon after take over of administration in Afghanistan by Taliban.

"During the last couple of days, Afghan currency is recovering losses it made in its value after a sudden and unexpected fall of Kabul to Taliban," disclosed Haji Naseer Khan, a money exchanger at Peshawar famous Chowk Yad Gar market.

Talking to APP here on Thursday, Haji Naseer also expressed astonishment over the fact that Afghan currency is gaining grounds despite of the fact that money exchangers are expressing hesitation over its trade because of uncertain future.

"There is an impression of fear in forex markets of Pakistan about the future of Afghan currency as what Taliban takes a decision about its future either keep in intact or discard it by introducing some new money," shares Haji Naseer.

He said 80 percent of traders in money exchange market are avoiding to purchase or exchange Afghan currency, but still it is showing strength.

Naseer informed that at time when Kabul was under the control of unity government of Ashraf Ghani, the value of 1000 Afghani was equivalent to Rs2100 of Pakistan rupees.

When Taliban took over control of Kabul, the Afghan currency showed a decrease and plunged to Rs1600 of Pakistan Rupees.

However, now from the last couple of days, it is on recovery track and has reached to Rs1900 of Pakistan rupees for 1000 Afghanis.

Naseer expressed the hope that if current trend continued, the Afghani will soon recover the losses it made due to fall of Kabul.