![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
![]() |
![]() |
![]() |
You are in: Business | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
![]() |
|
![]() |
Wednesday, 4 September, 2002, 12:05 GMT 13:05 UK
Afghanistan redenominates currency
![]() One new afghani will buy what 1,000 afghanis buy now
Afghanistan has announced, as expected, that it will redenominate its currency, the afghani.
Western diplomats welcomed the move as a symbol of relative stability in Afghanistan after 23 years of fighting. But there was also widespread concern that the decision has been made too early and it could cause panic selling of old afghanis. The redenomination process could be made tricky by the fact that the communications system in Afghanistan is still very basic, some sceptics said. Talk it up Afghan President Hamid Karzai disagreed.
"They will be able to use the new Afghanis in all corners of Afghanistan. "The new money will have value, and in the exchange markets it will be stable and credible." Under pressure "Two plane loads of the new afghani notes have already arrived in Kabul and the exchange with the old notes will begin soon," a government statement said.
One US dollar could be bought for 40,000 afghani on Monday. On Tuesday, a dollar was worth 52,000, currency dealers in Kabul said. The fall was the sharpest one-day drop since Mr Karzai came to power in December 2001. Plenty of time Central Bank Governor Anwarulhaq Ahadi was surprised about the currency's sharp fall. "There is no danger for anybody with the introduction of new denominations," he said. "People will have plenty of time to exchange their money." The new afghani notes have been printed in Germany.
|
![]() |
See also:
![]()
03 Sep 02 | Business
02 Sep 02 | September 11 one year on
04 Feb 02 | South Asia
31 Jan 02 | Business
03 Feb 02 | South Asia
15 Feb 02 | Country profiles
Internet links:
![]() The BBC is not responsible for the content of external internet sites Top Business stories now:
![]() ![]() Links to more Business stories are at the foot of the page.
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
Links to more Business stories |
![]() |
![]() |
![]() |
![]() |
||
![]() |
![]() |
![]() |
----------------------------------------------------------------------------------
To BBC Sport>> | To BBC Weather>> | To BBC World Service>> ---------------------------------------------------------------------------------- © MMIII | News Sources | Privacy |