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Central Bank of Afghanistan introduces a new family of Afghani Banknotes
At a press-conference held on Mizan 13, 1388 the Central Bank Governor, His Excellency Abdul Qadeer Fitrat, announced that a new family of banknotes would soon be released to the public. The bank notes are machine readable, of better quality and have more advanced security features than current banknotes. The security features provide robust protection against counterfeiting. As a result of the improved quality of the bank notes Governor Fitrat reported that the new banknotes will have a greater longevity (4 years) than existing banknotes (3 years). The Central bank will gradually replace the existing 85 billion Afs that have been issued to date with the new and improved notes. Old, mutilated and dirty notes will be gradually removed from circulation and destroyed in the Central Banks furnace. The introduction of new banknotes is standard procedure for central banks around the world. Previously, Afghanistan had three separate currencies which lead to hyper-inflation and macroeconomic instability. The currency reform of 1381 introduced a single currency which is issued exclusively by the central Bank. As a result of these reforms the Afghani currency is one of the most stable currencies in the region. “Harnessing Technology to deliver financial services to the Unbanked” This is the second workshop in one month that I have been invited to address by the united state agency for international Development. I am delighted that our development partners, including the joint hosts the ARIES and AEGPSS projects, are paying increasing attention to this important area of economic development....
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