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Unbelievable: Taliban controls the world’s best performing currency this quarter;


What does the Taliban know that other poor countries don't yet understand?  See the rules the Taliban has implemented at the bottom of this article. 


According to Bloomberg's data, the Currency of Taliban-controlled Afghanistan has become the top-performing currency this quarter. The Afghani has seen a substantial increase of nine percent in value, driven by a significant influx of humanitarian aid and strengthened trade with neighboring Asian countries. 


The Taliban, who have been in control for the past two years, have implemented various measures to ensure the stability of their currency.


Dollars and Pakistani rupees cannot be used in local transactions, and US dollars cannot be moved out of the country without stricter restrictions. According to Bloomberg, online trading has even been criminalized, with imprisonment threats for those who break the rules.


Despite this development, Afghanistan remains a poor country with one of the worst human rights records in the world. While Afghani has experienced a substantial 14 percent increase in value over the year, it still ranks third on the global list behind the currencies of Colombia and Sri Lanka.


There is a dire situation in Afghanistan due to international sanctions, with high unemployment, two-thirds of households unable to afford basic necessities, and inflation giving way to deflation.


Since the end of 2021, the United Nations has been sending regular planeloads of US dollars to support the poor in order to alleviate some of their economic hardships.


At the moment, Afghans exchange foreign currency primarily through money changers known as "sarraf," who set up stalls in markets or operate out of stores in cities and villages. In Kabul, the nation's de facto financial hub, tens of millions of dollars are exchanged daily. The central bank has stated that trading restrictions are not in place.


Almost all remittances to Afghanistan are now sent through the Hawala money transfer system, which is the basis of Sarraf's business.


According to the international organization's financial tracking agency, the United Nations estimates that Afghanistan needs about $3.2 billion in assistance this year, but only $1.1 billion has been provided. Last year, the organization spent nearly $4 billion, as 41 million Afghans faced hunger threats.


1.  US dollars and Pakistani rupees cannot be used in transactions in the country. 


2.  Online trading is illegal, punishable by imprisonment.


3.  Currency controls, remittances, and the inflow of all cash is controlled by the Taliban.




This post first appeared on Iraqi Dinar US Rates News, please read the originial post: here

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Unbelievable: Taliban controls the world’s best performing currency this quarter;

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