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383.5m Old Banknotes Set on Fire in Kandahar

Old Afghahni Bank notes

Kandahar – A visiting Afghanistan central bank’s delegation on Monday said it had torched old banknotes amounting to 383.5 million afghanis after their collection in southern Kandahar province. Headed by Da Afghanistan Bank deputy president, Mohammad Esa Tarab, the 12-member delegation, accompanied by officials of other departments and lawmakers, arrived in Kandahar city, the provincial capital, a day earlier.

Tarab said the visit was aimed at collecting old mutilated currency notes, burning them and campaigning for doing businesses in local currency by traders in the province. He confirmed they put on fire 383.5 million afghanis which had lost their value, adding the collection process took years to complete. Without saying if new banknotes to replace the burnt ones are being issued into circulation, the central bank official called the burning the first-ever taking place outside the central capital Kabul.

Tarab urged traders to avoid business deals in foreign currencies in order to strengthen the afghani. Governor Dr. Tooryalai Weesa, who met the delegation, said he had held a series of meetings with traders to appeal for considering businesses in the afghani.

He asked the central bank to evolve a mechanism that could help encourage trade in the local currency. (PAN)

 

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