Taliban ban on foreign currencies to further disrupt Afghan economy
New Delhi: The Taliban has banned the use of foreign currencies in Afghanistan, a move that could further disrupt the war-torn nation’s economy on the brink of collapse, the BBC reported.
“The economic situation and national interests in the country require that all Afghans use Afghani currency in their every trade,” the Taliban said.
The economy is struggling due to the withdrawal of international financial support after the Taliban took control of Afghanistan in August.
The US dollar has been used widely in Afghanistan’s markets.
Dollars are also often used for trade in areas bordering Afghanistan’s neighbours such as Pakistan.
“The Islamic Emirate instructs all citizens, shopkeepers, traders, businessmen and the general public to henceforth conduct all transactions in Afghanis and strictly refrain from using foreign currency,” Taliban spokesman Zabihullah Mujahid said.
“Anyone violating this order will face legal action,” the statement said.
After the Taliban seized control of the country in August, billions of dollars of Afghanistan’s overseas assets were frozen by the US Federal Reserve and central banks in Europe, the report added.
“We believe that it’s essential that we maintain our sanctions against the Taliban but at the same time find ways for legitimate humanitarian assistance to get to the Afghan people. That’s exactly what we’re doing,” Deputy US Treasury Secretary Wally Adeyemo told the Senate Banking Committee last month.