RASC News Agency: The Central Bank of Afghanistan, which is under the control of the Taliban group, recently announced the burning of over 118 million old banknotes in the eastern zone. This announcement, made on November 18th, stated that the total value of the burned banknotes amounted to 118,855,000 Kabuli rupees. This disposal took place in Nangarhar province. The burned banknotes consisted of various denominations, including one, two, five, ten, twenty, fifty, one hundred, five hundred, and one thousand.
Noor Ahmad Agha, the first deputy of “The Afghanistan Bank” within the Taliban group, confirmed the burning of these old banknotes. He also urged Afghanistani citizens to utilize Kabuli rupees, the current currency, for their daily business transactions. However, economic experts in the country argue that burning money is not an effective solution for preserving funds. Instead, they propose the development of a culture that emphasizes proper storage and protection of money to prevent the premature deterioration of banknotes.
“The Afghanistan Bank” points out that the aging of banknotes is primarily caused by cash exchanges in the market, the limited use of electronic payment systems and credit cards, and mishandling such as keeping money at home instead of in banks. Although burning old banknotes may appear to offer a quick fix, it is not a sustainable method. The Central Bank of Afghanistan has resorted to burning old banknotes on several occasions in the past. It is crucial to address the underlying causes of banknote wear and tear to ensure the longevity and stability of Afghanistan’s currency.
