Taliban Controls the World’s Best Performing Currency This Quarter
- Afghani erases losses it saw after the Taliban’s 2021 takeover
- Foreign exchange in country traded largely via money changers
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Billions of dollars from humanitarian aid and rising trade with Asian neighbors has propelled Afghanistan’s currency to the top of global rankings this quarter — an unusual spot for a poverty-stricken country with one of the world’s worst human rights records.
The ruling Taliban, which seized power two years ago, has also unleashed a series of measures to keep the afghani in a stronghold, including banning the use of dollars and Pakistani rupees in local transactions and tightening restrictions on bringing greenbacks outside the country. It has made online trading illegal and threatened those who violate the rules with imprisonment.