Afghanistan’s currency, the Afghani, has claimed the title of the best-performing currency of the September quarter.

This remarkable achievement has been attributed to significant factors, including a surge in humanitarian aid and strict currency control measures enforced by the Taliban government.

As of September 26, the Afghani was trading at approximately 78.25 against the US dollar, marking an impressive 9% increase in its value. 

It outperformed the Colombian peso during the same period, which saw a 3% gain.

On a year-on-year basis, the Afghani has emerged as the third strongest performer globally, trailing only behind the currencies of Colombia and Sri Lanka, with an impressive 14% gain.

The Taliban, who assumed power two years ago, played a pivotal role in this currency’s ascent by implementing measures such as banning the use of US dollars and Pakistani rupees in local transactions. These measures aimed to bolster the Afghani’s status as the primary currency in the country.

To further safeguard the stability of the Afghani, the Afghan government introduced stringent restrictions on the outflow of US dollars, effectively curbing capital flight.

Afghanistan also experienced a substantial influx of humanitarian aid, which provided a much-needed boost to the nation’s economy. 

This combined effort has propelled Afghani to its remarkable position as the top-performing currency of the September quarter, showcasing the resilience of Afghanistan’s financial landscape amidst challenging circumstances.