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Afghanistan’s currency plunges, locals rush to withdraw money from their accounts

Afghanistan in Taliban hands

The Afghani– Afghanistan’s currency — plunged as uncertainty rose with the Taliban taking control and Ajmal Ahmady, the acting governor, leaving. According to a Bloomberg report, the Afghani fell 1.7 per cent on Tuesday to 83.5013 per dollar.

This is the fourth consecutive day of decline, Bloomberg said. Panic has also risen as the Da Afghanistan Bank – the country’s central bank was forced to supply less currency with the stalling of dollar shipment.

“We received a call that given the deteriorating environment, we wouldn’t get any more dollar shipments,” acting governor Ajmal Ahmady wrote in his Twitter thread.

On Monday, he said, “On Sunday I began work. Reports throughout morning were increasingly worrisome. I left the bank and left deputies in charge. Felt terrible about leaving staff.”

Also read: Panjshir, once the hub of the anti-Taliban resistance, vows to fight back

“It did not have to end this way. I am disgusted by the lack of any planning by Afghan leadership. Saw at airport them leave without informing others.”

Ahmady, who had worked with the US Treasury, World Bank among others, took over as acting governor just over a year ago.

He also said that once former Afghanistan President Ashraf Ghani’s departure was announced, it was certain that the country would be hit by chaos.  

Meanwhile, Al Jazeera, in a report said that the local residents have been rushing to the banks to withdraw money from their accounts.

“Afghans and foreigners alike also raced to exit the city, signalling the end of a 20-year Western experiment aimed at remaking Afghanistan,” the report said.