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Injection of new banknotes won’t cause currency slide

AT

Kabul: A member of the Afghan Central Bank’s supreme council, Shah Mehrabi, said that the newly printed Afghani banknotes will enter the markets through proper methods that will not affect the value of the Afghan currency.

Mehrabi, who is also a member of the trust fund of $3.5 million of Afghan assets based in Switzerland, said that the final batch of the Afghani printed banknotes printed by the Polish Security Printing Works will arrive in Kabul in January.

Mehrabi arrived earlier in Kabul and attended the Supreme Council meeting of Da Afghanistan Bank.

“The last batch of banknotes printed by PWPW will be delivered in January 2023. The contractual obligation of Oberthur Fiduciaire is to deliver half of the printing Afghani banknotes in May 2023 and the reminder at the end of that year,” Mehrabi told TOLOnews.

Residents of Kabul expressed concerns over worn-out banknotes in the market.

“The worn-out banknotes have created a lot of problems for the people because when we take the money from the clients and then give it back to someone else, they will not take it,” said Mohammad Ihsan, a resident of Kabul.

“If the Islamic Emirate collects the worn-out money from the market, and injects new banknotes, it will benefit us,” said Mohammad Mohsin, a resident of Kabul.

Economists said that the newly printed banknotes can solve the cash liquidity problems in the market.

“Printing and injecting new banknotes into the monetary system of Afghanistan is effective economically and it will solve the problem of liquidity to some extent,” said Darya Khan Baheer, an economist.

“When the Central Bank delivers the banknotes based on demands and through a specific mechanism and monetary policy, of course, it will not affect the value of the Afghani,” said Seyar Qureshi, an economist.

Earlier, Mehrabi said that two batches of banknotes printed by the PWPW had arrived in Afghanistan.

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