Kabul (Kubha News) – The Afghanistan Bank (DAB) unveiled its annual report, showcasing a robust 17.82% increase in the value of the Afghani compared to the previous year, reaffirming its status as one of the most resilient currencies in the region.
According to the DAB report, the Afghani (AFN) demonstrated a notable uptick in value throughout 2023, marking a significant advancement from the preceding year.
The report states that in a bid to enhance accessibility to banking services, DAB progressively eased restrictions on deposits within commercial banks while expanding the network of bank branches, particularly in remote areas. Moreover, strides were made in bolstering electronic banking infrastructure, exemplified by the widespread adoption of the AfPay card, facilitating seamless transactions and utility payments.
According to the report, the concerted effort to modernize banking operations includes the retirement of antiquated banknotes totaling approximately AFN 5.2 billion, subsequently replaced by fresh currency injections.
Despite the currency’s resilience and the reduction of deposit constraints within private banks, challenges persist for individuals seeking to withdraw funds, reflecting ongoing hurdles within the financial sector.