Afghanistan Central Bank to Sell $10 Million as Currency Slides

(Bloomberg) -- Da Afghanistan Bank, the country’s central bank, is selling $10 million dollars on Tuesday to support the currency which has been tumbling to record lows, the first such auction under the new Taliban regime.

The central bank, in a statement, said qualified banks and currency exchangers can participate in the bidding, without providing any details on when the results of the auction are expected.

The auction is happening as the country’s banking system remains under severe strain following the the U.S. move to freeze some $9 billion of assets held outside the country on concerns about the regime’s continued links with terrorism and human rights abuses and its failure to form an inclusive government.

The Afghani fell 2.7% to a record low of 93.89 on Monday, according to Bloomberg data.

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