PESHAWAR, Oct 9: After an unprecedented improvement recorded during the last fortnight, Afghanistan’s national currency — Afghani — has started sliding back in the wake of the US strikes on Afghanistan, according to sources.
The Rs260 to 100,000 Afghani parity recorded on October 4 — highest during the last one decade — appeared to be short-lived as the Afghan currency started its downward journey subsequently after the US attacks.
The temporary rise, triggered by reports of former Afghan king Zahir Shah accepting to play a role to bring peace back to Afghanistan, lifted Afghani’s exchange value to Pakistan rupee from Rs97 to 100,000 Afghani on Sept 11 to Rs260 to 100,000 Afghani on Oct 4.
However, after the Sunday night’s United States attacks, the Afghani to Pakistan rupee exchange value on Monday dipped to Rs170 to 100,000 Afghani (buying) and Rs180 to 100,000 Afghani (selling).
According to currency dealers, on Tuesday the Afghan currency showed stability maintaining the Monday’s parity level leaving the market forces with not much hopes of its ability to pick up again in the near future amidst continued strikes on Afghanistan by US and Britain forces.
On Tuesday, rupee to Afghani exchange value in the Kabul currency market was recorded at Rs160 to 100,000 Afghani (buying) and Rs170 to 100,000 Afghani (selling).
