KABUL (SW) - The commerce commission of the Wolesi Jirga (lower house) on Saturday blamed the Da Afghanistan Bank for failing to keep the value of afghani stable.
During today’s session, the commission shared its report into the reasons behind the steady fall in value of the afghani against the U.S. dollar. It charged the central bank for monopolizing the supply of dollars in the open market with four specific forex companies.
Munawar Shah Bahaduri, head of the commission, said without sharing the names of these forex firms that an individual owns all these four companies, and has struck a ‘secret deal’ with the DAB. He went on to say the central bank’s policies to keep the value of the currency stable are failed. He also criticized the DAB chief for not appearing before the house to clarify situation.
In the meantime, Emal Hashoor, spokesman for the DAB, told the house the central bank has no legal jurisdictions to interfere in the open currency market. He clarified the DAB does pump dollars into the market via a transparent mechanism to keep the value of the afghani stable. He defended the DAB chief against the allegations levelled by the chief of the WJ’s commerce commission.
The staggering fall in the value of afghani has caused surge in the prices of many basic commodities.