World News

Taliban bans use of foreign currency in Afghanistan

By Rajan Nath -- November 03, 2021 9:11 am -- Updated:Feb 15, 2021

Afghanistan: In a move that is certain to cause further disruption to the Afghanistan economy that is already on the brink of collapse, the Taliban has announced a complete ban on the use of foreign currency in the country and warned of action for violating the order, reported Al-Jazeera.

"The Islamic Emirate (Taliban) instructs all citizens, shopkeepers, traders, businessmen, and the general public to ... conduct all transactions in Afghanis and strictly refrain from using foreign currency," the news channel quoted the statement by Taliban spokesperson Zabiullah Mujahid as saying. "Anyone violating this order will face legal action," the statement further read.

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According to the channel, the US dollar is the widespread medium of exchange in Afghanistan's markets. The bordering areas use the currency of neighbouring countries like Pakistan for trade purposes, reported the news channel.

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Notably, Afghanistan's access to more than USD 9.5 billion has been blocked by the US, the World Bank, and the International Monetary Fund (IMF) after the Taliban take-over in Kabul on August 15.

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Millions of Afghans have been internally displaced, and thousands have left the country giving rise to a growing humanitarian crisis.

The country is in a dire economic situation with no international support and connectivity, resulting in an extremely difficult situation for ordinary people.

-PTC News