As the dollar appreciates against the afghani, Afghanistan Bank said in a recent move that it will auction 10 million US dollars next Wednesday.
Afghanistan bank on Monday, February 14, invited eligible commercial banks and exchange and monetary services companies to participate in the bidding.
The bank added: “Afghanistan Bank wants to sell about (10) million US dollars through an open and transparent process during the bidding process on Wednesday.”
According to Afghanistan Bank, the winners of the auction are required to clear their accounts by the end of the day.
Afghanistan bank has said that partial settlement of transactions is not allowed in the bidding of currency auctions and said that the winners of the auction will pay their dues in cash to Da Afghanistan Bank in a timely manner.
The US dollar was trading at 92.4 afghanis against the Afghani in Kabul markets on Monday.
This is despite the fact that the value of foreign currency against the Afghani has risen sharply recently.
Earlier, Afghan money changers told VOA that the weakening dollar in the currency exchange market was one of the main reasons for the rise in the value of the dollar against the Afghani.
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