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Afghanistan’s money is crumbling to pieces, just like its economy

27th September, 2022 · admin

LA Times: In previous years, the Afghan central bank — known as Da Afghanistan Bank, or DAB — would withdraw annually 3 billion to 4 billion afghanis’ worth (about $33 million to $45 million) of decrepit banknotes and substitute them with new ones printed abroad. (Afghanistan does not have its own mint.) But the international sanctions on working with the Taliban have left foreign printers spooked, plunging the country into a liquidity crisis as Afghans contend with a currency that is — literally — falling apart. Click here to read more (external link).

Posted in Economic News | Tags: afghani, Banking, Da Afghanistan Bank |
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