Influx of fake US dollar in Afghanistan leaves business owners distressed
Jul 03, 2022
Kabul [Afghanistan], July 3 : Business owners and money exchange dealers in Souther Afghanistan have raised serious concerns over the rising influx of counterfeit US dollars in the country that might disrupt the economy, local media reported.
This proliferation of counterfeit dollar, which looks quite similar to the original banknotes is worrying many business owners and money exchange dealers in the provinces of Kandahar and Helmand, in the south of Afghanistan.
The money exchange dealers claimed that some people have attempted to carry out this mischief. They are trading newly manufactured counterfeit money in the market over the past two months, reported Afghanistan's local media outlet.
The dealers have apprehensions that when more counterfeit money circulates in the economy, it will decrease the value of real money, increase inflation and consequently disrupts the Afghan economy if not controlled.
They are also perturbed about the harm the fake US dollars will cause to the market's trust and interest in foreign currency exchange, as per the media portal. The new counterfeit dollars, according to some money exchange dealers in the market, are printed with a subtle difference from the original banknotes, which is not easy to distinguish.
Currency counterfeiting and fraud are crimes that consistently threaten a nation's economy and cause financial damage to its citizens. Despite the scary trend in Afghanistan, the Afghanistan Central Bank has not issued any public statement.
Afghanistan is grappling with a serious humanitarian crisis as according to international assessments, Afghanistan has now the highest number of people in emergency food insecurity in the world, with more than 23 million in need of assistance, and approximately 95 per cent of the population having insufficient food consumption.
Notably, the situation of human rights in Afghanistan has worsened since the collapse of the Afghan government and the Taliban's return to power in August last year. Although the fighting in the country has ended, serious human rights violations continue unabated.
