Iranian media report that the value of the Afghani has increased significantly in Tehran’s currency market over the past year, surpassing the gains of the UAE Dirham and the Turkish Lira.
According to these reports, the Afghani has reached a record 40% increase in the Iranian currency market.
Meanwhile, the Ministry of Economy attributes this rise in the Afghani’s value against other currencies to the implementation of infrastructure projects, prevention of dollar smuggling, and an increase in exports.
Abdul Latif Nazari, Deputy Minister of Economy, stated, “Political stability, transparency, the eradication of financial and administrative corruption, foreign investment, public trust, the launch of large-scale national projects, and reduced inflation rates have all contributed to this rise.”
Additionally, the Chamber of Commerce and Investment noted that over two billion dollars in trade is conducted annually with Iran, and the increased value of the Afghani against the Iranian Toman could help reduce prices.
Khan Jan Alokozay, a board member of the Chamber of Commerce and Investment, said, “We trade with Iran using regular currency, and often with the Toman and Afghani. As the Afghani’s value rises against the dollar in our market, it also rises against the Toman, as indicated by the reported 40% increase.”
Economic expert Abdul Nasir Rashtia added, “When the Afghani rises in value against foreign currencies, it can have highly positive effects on reducing prices in the markets.”
According to the Central Bank of Afghanistan, the Afghani has increased in value by 17.25% against foreign currencies over the past year, with a 3% rise in just the last six months.