Afghanistan to get new currency
Uncle Sam's in charge now | 05.09.2002 00:16
KABUL, Afghanistan (AP) - Afghanistan's transitional government will soon introduce new bank notes to boost economic growth and make small transactions that now require stacks of bills easier, officials said Wednesday.
Afghanistan to get new currency
``The objective is really to add to the stability of the currency, the stability of the afghani, and to make it easier for people to engage in economic transactions,'' said Anwar ul-Haq-Ahady, the governor of the central bank.
One new afghani will be equal to 1,000 old afghanis, central bank official Wahid Ulluh told The Associated Press. There was no word on exactly when the new notes would be released.
A statement by President Hamid Karzai said the new currency had been printed in Germany ``with the best technology'' to prevent counterfeiting.
Old afghanis will soon be able to be exchanged for new ones at banks and special market stalls in Kabul and across the country, the statement said.
Ahady said no one holding old bank notes should fear the news.
``We have taken adequate measures so that no one will lose in this process. This is simply an exchange of bank notes,'' Ahady said, showing reporters new 500 and 1,000 afghani notes.
``We hope that ... in the long run this will provide a more conducive environment for economic growth.''
The statement said the currency's value had jumped and fallen in recent days because money changers were speculating on what the new bank notes would mean.
In recent months the afghani has been relatively steady at about 40,000 to the U.S. dollar. In Kabul on Wednesday, one dollar was worth about 45,000 afghanis compared to 54,000 afghanis the day before.
Pakistan rupees, U.S. dollars and afghanis can be used to pay everyone from shoeshine boys to upscale restaurant managers in the capital.
http://www.guardian.co.uk/worldlatest/story/0,1280,-1990982,00.html
One new afghani will be equal to 1,000 old afghanis, central bank official Wahid Ulluh told The Associated Press. There was no word on exactly when the new notes would be released.
A statement by President Hamid Karzai said the new currency had been printed in Germany ``with the best technology'' to prevent counterfeiting.
Old afghanis will soon be able to be exchanged for new ones at banks and special market stalls in Kabul and across the country, the statement said.
Ahady said no one holding old bank notes should fear the news.
``We have taken adequate measures so that no one will lose in this process. This is simply an exchange of bank notes,'' Ahady said, showing reporters new 500 and 1,000 afghani notes.
``We hope that ... in the long run this will provide a more conducive environment for economic growth.''
The statement said the currency's value had jumped and fallen in recent days because money changers were speculating on what the new bank notes would mean.
In recent months the afghani has been relatively steady at about 40,000 to the U.S. dollar. In Kabul on Wednesday, one dollar was worth about 45,000 afghanis compared to 54,000 afghanis the day before.
Pakistan rupees, U.S. dollars and afghanis can be used to pay everyone from shoeshine boys to upscale restaurant managers in the capital.
http://www.guardian.co.uk/worldlatest/story/0,1280,-1990982,00.html
Uncle Sam's in charge now