Usage of Pakistani rupee banned in Afghanistan

[Dzz]

Excellent Afghanistan needs to raise up and stop Pakistan meddling in their personal relations and affairs

 

[Thorough Pro]

Was it officially allowed earlier?
Who in Pakistan is going to sell them against worthless Afghani? Wana buy from Pakistan use PKR.

Afghani makes sharp gains against rupee, dollar

Business & Economics

By
Bashir Ahmad Naadim
On
Aug 03, 2016 - 19:36
KANDAHAR (Pajhwok): Following a ban on the usage of Pakistani currency by central bank officials and the police headquarters, the value of the afghani has witnessed an unprecedented rise against the rupee and dollar in southern Kandahar province.

A few days ago, the central bank officials in Kandahar said almost all deals in the southern zone encompassing Kandahar, Helmand, Uruzgan and Zabul provinces happened in the Pakistani currency, affecting the value of the afghani.

The bank officials informed the people that they had launched efforts to ban domestic transactions in the Pakistani currency and a ban has been imposed in Spin Boldak border town.

Through a statement, the central bank in Kandahar warned people of fines and legal action if they used the Pakistani currency. Similarly, Kandahar police chief Gen. Abdul Raziq has also called on people to avoid using the rupee.

On Wednesday, sources at the Kandahar Money Market said the afghani had made sharp gains against the rupee and dollar and the afghani continued to appreciate.

Moneychangers Union head in Kandahar Haji Qandi Agha said 1000 afghanis were exchanged for 1800 rupees and one US dollar for 62 afghanis.

He said a few days ago 1000 afghanis accounted for 1620 rupees and one US dollar cost 69 afghanis.

He said the afghani had greatly appreciated against the foreign currencies during the past few days and hoped the afghani would continue to make gains against the rupee and dollar.

Haji Qandi Agha linked the afghani’s sharp appreciation against the two foreign currencies to the ban on the Pakistani currency in southern provinces. He said people’s cooperation to use the afghani instead of the rupee was essential.

“Today hundreds of people from Kandahar’s various districts arrived to the money market to change the Pakistani currency into the afghani,” he said.

He said previously the money market would open at 12pm, but today it was open at 9am, with those surrendering the rupees were unable to find space.

Hundreds of people coming from various districts, particularly from Spin Boldak, arrived at the money exchange market to change the rupees into afghanis.

They said they had decided to convert the rupees into afghanis following the ban on transactions in the Pakistani currency.

Haji Mohammad Rasool, a trader from Spin Boldak, who visited the money exchange market to change the rupees into the afghanis, said his decision to buy the afghanis came in response to the ban.

“I would purchase common goods in the rupee and would sell them in the rupee as well, but now I will not keep the foreign currency with myself.”

He said it was common to use the Pakistani currency in Spin Boldak and he also had no option.

The trader said he would not only himself avoid the use of rupee but would also encourage other people to do so.

Economic experts believe if the afghani stabilizes to a certain extent against the rupee, it would be good news for the country’s economic development.

Expert Abdullah Ziarmal said the appreciation of the afghani against foreign currencies had many economic benefits including economic development and balanced trade.

He said if the afghani was kept appreciating against foreign currencies, it would increase people’s demand for the local currency and investments would be done in the afghani.

The expert said there was no specific currency used in procurement deals, but if the value of the afghani was further increased and the afghani gained stability, the procurement process would also be done in the afghani.

But he expressed his fear that some countries often deliberately devaluated their currencies for a short period of time to get maximum profit.

He said Afghanistan had recently made attempts to reduce reliance on Pakistan in areas of trade and imports.

It was possible Pakistan might take advantage of the situation and encourage Afghan traders to buy goods in the depreciated rupee in Pakistan and import them to Afghanistan, he said.

“It will help gradually appreciate the rupee, which is a dangerous situation from economic perspective.”

The expert insisted central bank officials and members of the Afghanistan Chamber of Commerce and Industries should avoid taking steps that endangered the stability of the afghani.

In Kabul, the main money exchange market through Facebook said the afghani had appreciated a lot following the ban on the rupee in southern provinces.

The market officials urged the countrymen to wage a widespread campaign stressing the use of only and only the afghani in domestic transactions.

 

[idune]

Excellent Afghanistan needs to raise up and stop Pakistan meddling in their personal relations and affairs

oh yes, afghans need to listen to indian dictate and bully how to manage relation with their immediate neighbor, who fed them and sheltered them for quarter of a century.

 

[Adonis]

Sure, every country has a right to protect themselves by any means possible.

So Afghanistan can ban Pakistani currency, yes. But why does Pakistan have to host millions of Afghan refugees? Doesn't Pakistan have a right to protect themselves as well?

No. But like Afghan Govt had guts to ban Pakistan Currency..it's upto Pak Govt to have guts to send the refugees back home.

Sure, every country has a right to protect themselves by any means possible.

So Afghanistan can ban Pakistani currency, yes. But why does Pakistan have to host millions of Afghan refugees? Doesn't Pakistan have a right to protect themselves as well?

No. But like Afghan Govt had guts to ban Pakistan Currency..it's upto Pak Govt to have guts to send the refugees back home.

 

[sparten]

@xxx If inflation is like a stomach bug and hyperinflation like Cholera, than deflation is like a massive heart attack. There is literally no worse thing for an economy than deflation; what do you think exacerbated the 2008 financial crises?

 

[Mentee]

afghani is a stronger more stable currency than pk rupaiya

Tell me You didn't mean that

 

[shah1398]

Before send their agents like achakzai asfander year they are mqm of Khyber pakhtunkhua

Both of them are enjoying the money they got from their masters for vomiting rubbish against their own Motherland. U wud only see them coming out of their holes when they need more money.

Everything is going to get far more expensive in Afghanistan, and considering that things were already expensive

And when things get expensive people start to steal from other just like they stole goats from pastures of Chitral. So it means Pakistan has to tighten the cross border movement esp of the perishable goods.

 

[WaLeEdK2]

Tell me You didn't mean that

I was going to ask someone to ban that person after that comment but then I thought we need more comedy on PDF lol.

 

[Zibago]

and the Rupee would appreciate if we start selling on subsidized rates



Actually Afghans in the posh area Hayatabad of my city Peshawar, are leaving and thus selling their goods at cheap price and as a result the property prices will go down

Thinking of moving but pathans dont make spicy foods so plan cancelled

Most transactions for products that go into Afghanistan are done in Pakistan its more convinient for them to trade in Rs this ban will have very little effect Afghanis even call their own curreny Afghani Rupiya well minus the keyboard Loy Afghani fundos

 

[Srinivas]

Sure, every country has a right to protect themselves by any means possible.

So Afghanistan can ban Pakistani currency, yes. But why does Pakistan have to host millions of Afghan refugees? Doesn't Pakistan have a right to protect themselves as well?

Because pakistan wanted to suppress the pashtun movement and Pashtunistan demand, they injected religious fundamentalism with the help of Saudi Arabia and USA(Saudi, USA and Pakistan nexus). Made the territory a hell hole because of Taliban.

They want Afghanistan to be a strategic depth for their fight against India. Afghanistan is accommodating these refugees slowly, with the increase in the bilateral trade with the countries around soon Afghanistan will gain strength and will be able to accommodate them.

It is the design of Pakistan after USA and Saudis left that made the region a poor backward one.

China and Pakistan are siding with Taliban and continue the same policy which Pakistan has been implementing in those areas for decades. Refugees are the result of Afghan war and the taliban regime which took the region to stone ages are the main culprits.

Today when Pakistanis say Afghans are not reliable, of-course they are not reliable and loyal to their lands because they knew what Pakistan is and what it is been doing to them from early 1990's.

Pakistan got aid money in the name of refugees from USA and other sources.

 

[Jai.Singh]

Afghanistan as a country with weak economic institutions needs more faith in their own currency. They for the longest time have been discouraging the use of the Pakistani rupee AND the U.S. dollar. Its not that they hate Pakistan. They can't ban the U.S. dollar as outright because the dollar is an international currency with strong backing. It would be silly to ban the use of the dollar.

But they CAN ban the rupee to discourage its use and promote the Afghani...

 

[ADIL SHERDIL]

Very good move by Afghanistan. This has shown that they are independent and can survive in the future my suggestion to the government of Pakistan would be let us help them and as a nation send all these afghanis who have overstayed there welcome back to Afghanistan and if some other country want them let us move this herd there. And let there Indian brothers keep them for more than quarter of a century.
people talking about movement kindly take a look at there backyard and then start pointing fingers. and if you have that much love for Afghanis ask your govt. to open there gates for these so called refuges and we wont stop anyone

 

[Dzz]

oh yes, afghans need to listen to indian dictate and bully how to manage relation with their immediate neighbor, who fed them and sheltered them for quarter of a century.

kid 30% of Bhutan's GDP is from Indian aid money.
we are literally building dams and 1000km trade corridors in Afghanistan for free .



we take care of our own interests by investing in it. not by starting a war every Sunday, like our western neighbors.If Pakistan wants to "help" Afghanistan , they should equalize afghan currency with Pakistani currency , like we did with Nepal.

if India can equalize currency with Nepal and Bhutan while having a economy trillions larger than both combined , why cant Pakistan?

 

[Kambojaric]

Reminds me of this video:

 

[wiseone2]

oh yes, afghans need to listen to indian dictate and bully how to manage relation with their immediate neighbor, who fed them and sheltered them for quarter of a century.

Pakistan made billions of dollars in the name of those Afghans