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Afghanistan’s Currency Collapse: Billions Frozen By U.S. And IMF

Afghanistan’s Currency Collapse: Billions Frozen By U.S. And IMF

by Trish Intel
August 20, 2021
Kirk Elliott Expert

As the Taliban seizes control of Afghanistan, the macroeconomic outlook for the country is rapidly worsening.

On Tuesday, the USD/AFN exchange rate increased rapidly from 80 to 86, after briefly touching 100. However, the outlook for Afghanistan’s Afghani ( AFN ) is much worse than even those numbers show. Frozen Reserves

The Central Bank of Afghanistan (or Da Afghanistan Bank – DAB ) holds about $10.0 billion in international reserves. This includes foreign currency, U.S. treasuries and gold.These reserves previously helped stabilize the value of a country’s currency, just like gold did in the past. However, much of these […]

Read the rest of this story here: trishintel.com

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