KABUL: Following devaluation of afghani currency against foreign currency, prices of flour, sugar, ghee and rice have edged up in capital Kabul, market sources said.
Moneychanger Ahmad Shah told Pajhwok Afghan News one US dollar was bought at 59.35 afs and the exchange rate of 1,000 Pakistani Rupee 575 afs.
Last Thursday, the rate of one US dollar stood at 59.35 afs.
Ahmad Shah said a reduction in circulation of dollars to market by central bank, reduced international assistance to Afghanistan, political and security challenges in the country had caused afghanis to drop against dollar.
He added previously the central bank was circulating around $80 million every week, while now that amount has reduced to $50 million.
In that last 12 years since the central bank printed new currency, afghani had maintained a steady price against dollars but it has come down in the last two years.
Officials at central bank could not be reached for comments on the reasons behind this decline.
This decline against dollars, many said, was a major reason behind a spike in food prices.
Fazel Rahman, head of food traders’ union, said the price of 50-kilogram Pakistani sugar today had reached up 1,600 afs as compared to 1,570 afs last week, price of 50-kg flour was 1,220 afs as compared to last week’s 1,200, 24-kg, Pakistani rice was sold at 1,580 as compared to 1,550 and 16 litre Momin ghee was sold at 1,080 afs as compared to last week’s 1,040 afs.
The price of one kilo African black tea and Indonesian green tea, he added, remained steady at 210 and 180 afs.
Petrol prices also witnessed increase.
A filling station worker Abdul Hadi in Wazir Abad locality of Kabul said price of one-litre diesel had reduced to 41 afs from 43 afs, but price of petrol had increased to 44 afs from 42.
Reduction in imports, he said, have caused price rise in petrol.
Mohammad Sharif, a liquefied gas seller in Taimani locality, said gas prices remained constant and was sold at 30 afs per kg.
Mohammad Fawad, a jeweler, said one gram of Arabian gold was sold at 2,000 afs, and the price of Russian gold has gone up from 1,900 to 1,950 afs per gram.
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
