Afghanistan: Kabul traders and locals react to Taliban banning foreign currency

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Local traders and residents reacted to the Taliban ban of foreign currencies for trade, at the Sarai Shahzada market in Kabul on Wednesday after the Taliban made the announcement on Tuesday.
The US dollar has been used widely in Afghanistan’s markets before the ban.
“If the exchange rate in Afghanistan decreases and is based on the Shahzada Sarai (foreign exchange centre in Kabul) and other transactions are based on the Afghan currency, the value of the Afghan currency will increase. And this is good for all our people,” said jewelry trader Ghazi Abdolhamid.
Others expressed concern about the already troubled economy.
“Our national currency is Afghani, we must use it. But we have no income and, for example, no products, and no employment, so banning [dollar] cannot heal our pain,” said Abdullatif Sakhizadah, a jeans trader.
After the takeover by the Taliban, the US government, the World Bank, and the International Monetary Fund (IMF) froze billions in assets and loans parked abroad.

SOT, Habib Al Rahman, Money exchanger (Dari): “When a trader buys in Afghani (currency) and then sells in Afghani, it has a positive effect on the country’s economy. Before the Taliban, the dollar was about 81 to 82 Afghanis, but now the dollar has risen in price. Traders used to buy in dollars and sell in dollars, and this lowered the price. Now if they sell in dollars because the price of the dollar is high, the price of the commodity goes up. If it is traded with Afghan money, it is good for us.”

SOT, Ghazi Abdolhamid, Gold jewellery trader (Dari): “The business is good, the Afghan currency will gain value. If the exchange rate in Afghanistan decreases and is based on the Shahzada Sarai (foreign exchange centre in Kabul) and other transactions are based on the Afghan currency, the value of the Afghan currency will increase. And this is good for all our people.”

SOT, Mohammad Arefbiad, Ladies clothing trader (Dari): “We trade with the dollar, and the dollar is always fluctuating. Lately, we have seen the dollar rise, because we have no economic backing, and therefore this will have a negative impact on our trade.”

SOT, Abdullatif Sakhizadah, Jeans trader (Dari): “Our national currency is Afghani, we must use it. But we have no income and, for example, no products, and no employment, so banning [dollar] cannot heal our pain. You see, the whole world understands that we have too many problems, in business, clothing sales, government work, in all respects.”

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