Taliban bans use of foreign currency in Afghanistan

Since the Taliban seized power in mid-August, Afghanistan’s reserves abroad have been frozen. (file)

Kabul:

Afghanistan’s Taliban on Tuesday announced a ban on the use of foreign currencies, fearing further disruption to an already ailing economy.

Since the terrorist group seized power in mid-August, the Afghan national currency had been devalued and the country’s reserves were piling up overseas.

With the economy crippled, banks are running short of cash and the international community has so far refused to recognize the Taliban administration as a government.

Meanwhile, many transactions within the country are carried out in US dollars, and the Pakistani rupee is used in areas close to the southern border trade routes.

But, in a press statement, Taliban spokesman Zabiullah Mujahid announced that from now on anyone using foreign currency for domestic business would be prosecuted.

“The economic situation and national interests in the country require that all Afghans use Afghan currency in every transaction,” he said.

“The Islamic Emirate instructs all citizens, shopkeepers, traders, merchants and the general public to conduct all transactions in Afghans from now on and strictly refrain from using foreign currency.”

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