The ‘Afghani,’ the official currency of Afghanistan, has earned the distinction of being ranked as the third most robust currency in 2023.
2023’s Strongest Currencies
A substantial influx of humanitarian aid, amounting to billions of dollars, along with expanding trade relations with nations in Asia, has propelled Afghanistan’s currency to a leading position in the global currency rankings for this quarter.
This development is particularly noteworthy given the country’s historical economic challenges, as reported by Bloomberg.
The report mentions that following their reassertion of authority over Kabul in August 2021, the Taliban implemented stringent regulations regarding the exchange of money.
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Additionally, it notes that the Taliban prohibited Afghan citizens from utilizing US dollars and Pakistani rupees while also prohibiting online currency trading. These actions were undertaken to boost the local Afghan currency, the Afghani, ultimately leading to its increased value.