The News Craving
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Al-Araby
Al-Araby
Afghanistan’s central bank has ordered banks to pay out remittances in local currency only, the latest move to preserve scarce US dollars, say sources familiar with the matter. Hard currency remittances have formed an important source of external finance for Afghanistan over the years but dollar availability has dried up in the aftermath of the Taliban’s conquest of the country. Western Union Co’s agent banking partners in Afghanistan received a directive from the country’s central bank in the last few days to pay out remittances in afghani only, said a source close to a money exchange provide…