Turbulence in Afghanistan sends its currency tumbling

Peshawar’s currency market has seen the Afghan currency tumble against the Pakistani rupee due to tumultuous events across the border.

Currency dealers in the provincial capital’s largest currency market at Chowk Yadgar said that the exchange rate of Afghani against Pakistani rupee had been fluctuating since the Afghan Taliban made advances in Afghan cities.

“Today, we are purchasing one Afghani for Rs1.7, while its selling rate is Rs1.9,” currency trader Qari Sher Gul said.

He said earlier, one Afghani fetched Rs2.2-Rs2.3.

Though there was little activity in the market due to the rapidly unfolding situation in Afghanistan and the upcoming Muharram holidays, traders insisted that it was too early to predict the future outlook for Afghani.