04 July 2020

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Afghanistan’s Central Bank Sees Increase in Gross Reserves

Written by  Manager2
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Tuesday, June 2, 2020
Kabul (BNA) The gross domestic product (GDP) of the central bank of Afghanistan, Da Afghanistan Bank, has reached more than $9 billion for the first time. Officials at the bank said that although the global aid to Afghanistan has declined, they have succeeded to increase the bank’s reserves.
The bank’s authority has stated that they have, for the first time, been able to increase the GDP to over $9 billion. According to them, last year about AFN22 billion was deposited in the government reserves through investments in foreign financial institutions. Although the Coronavirus pandemic has devalued Afghan currency against the dollar, the authority is pushing for effective programs to keep the value of the currency afloat, they said.
Welcoming the strengthening of the gross reserves of DAB, experts say that the central bank’s efforts would attract global funds for good.

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