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Concerns Raised Over Widespread Use Of Pakistani Rupees

According to money changers, rupees are not only being used in border provinces but also in central provinces – along with the Iranian currency, the Toman

A number of money exchangers at Saray Shahzada (Shahzada Money Market) in Kabul on Monday said they are concerned about the widespread of use of Pakistani Rupees in a number of provinces and urged the Central Bank to clamp down on the practise.

According to these money changers, rupees are not only being used in border provinces but also in central provinces – along with the Iranian currency, the Toman.  

“The Central Bank, the Ministry of Finance and in general the government does not have any policy about Afghan currency,” said Amin Jan Khosti, a member of Shahzada Money Exchangers Union.

But economists have said the lack of a financial policy is the reason behind the Central Bank’s failure to prevent the use of rupees in the country.  

“In Afghanistan, the foreign currency … is being used as money. For instance, Toman and Pakistani Rupees are being used in daily markets,” said Hasibullah Mowahidi, an economic lecturer at Kabul University.

The Central Bank however said they are working on a plan to stop the use of rupees in order to support the Afghan currency.

“The approach for the promotion of the Afghani currency in coordination with relevant ministries has been finalized and soon will be sent to the Ministers Council and after the

approval we will implement the plan,” said Qasim Rahimi, deputy head of the Central Bank.

Balkh money exchangers meanwhile sharply criticized the Central Bank for not taking action to stop the use of rupees.

Business

Concerns Raised Over Widespread Use Of Pakistani Rupees

According to money changers, rupees are not only being used in border provinces but also in central provinces – along with the Iranian currency, the Toman

Thumbnail

A number of money exchangers at Saray Shahzada (Shahzada Money Market) in Kabul on Monday said they are concerned about the widespread of use of Pakistani Rupees in a number of provinces and urged the Central Bank to clamp down on the practise.

According to these money changers, rupees are not only being used in border provinces but also in central provinces – along with the Iranian currency, the Toman.  

“The Central Bank, the Ministry of Finance and in general the government does not have any policy about Afghan currency,” said Amin Jan Khosti, a member of Shahzada Money Exchangers Union.

But economists have said the lack of a financial policy is the reason behind the Central Bank’s failure to prevent the use of rupees in the country.  

“In Afghanistan, the foreign currency … is being used as money. For instance, Toman and Pakistani Rupees are being used in daily markets,” said Hasibullah Mowahidi, an economic lecturer at Kabul University.

The Central Bank however said they are working on a plan to stop the use of rupees in order to support the Afghan currency.

“The approach for the promotion of the Afghani currency in coordination with relevant ministries has been finalized and soon will be sent to the Ministers Council and after the

approval we will implement the plan,” said Qasim Rahimi, deputy head of the Central Bank.

Balkh money exchangers meanwhile sharply criticized the Central Bank for not taking action to stop the use of rupees.

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