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Prices of gold, sugar & ghee up as afghani falls

Prices of gold, sugar & ghee up as afghani falls

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Aug 21, 2017 - 11:20

KABULinfo-icon (Pajhwok): The prices of gold, sugar and ghee rose following a decline in the Afghan currency value, market sources said on Monday.

Moneychangers said one US dollar accounted for 69.1 afghanis and 1,000 Pakistani rupees for 646 afghanis this week against last week's rates of 68.41afs and 635afs.

Mohammad Nader, a member of the Sara-i-Shahzada Moneychangers Union, told Pajhwok Afghan News the afghani dipped after the Da Afghanistaninfo-icon Bank (DAB) announced invalidating old banknotes.

On February 1, DAB said banknotes that with sticky tap or glue, colours, stamps or faded colour, would be invalidated after Aug 23.

Nader said people were changing their banknotes and the process increased the circulation of the bills in the market but pushed down the currency value.

The prices of flour, sugar and ghee went up, said Food Traders Union head, Fazal Rahman. The price of a 49 kilograms bag of Pakistani sugar rose from 1,900afs to 1,920afs.

Similarly, the rate of a 50 kilograms sack of Kazkhstan flour increased from 1,170afs to 1,180afs and a 16 litres tin of Khurshid ghee from 1,120afs to 1,130afs.

Rahman linked hike in food item prices to the reduced value of the afghani. A 24kg bag of Pakistani rice sold for 1,800afs, the same price as last week’s.

Noor Ahmad Khairkhwa, a tea merchant, said a kilogram of Indonesian green tea cost 280afs and the same amount of African black tea 300afs -- same as last week’s.

Ahmad Wali Panjsheri, who owns a grocery shop in Dahn-i-Bagh area, sold a 50-kg bag of Kazakhstani flour for 1,350afs and a 49-kg sack of Pakistani sugar for 2,100afs.

He sold a 16-litre tin of Khurshid ghee for 1,320afs, a 24-kg sack of Pakistani rice for 2,000afs, a kilogram of Indonesian green tea for 300afs and the same quantity of African black tea for 350afs, higher than wholesale rates.

Gold prices also increased. Haji Fawad Ahmad Salehzada, a jeweller in Timor Shahi area, said the price of one gram of Arabian gold increased from 2,350afs to 2,400afs and the same quantity of the Russian variety from 1,900afs to 1,950afs.

However, fuel prices remained steady. Abdul Hadi, a worker at the Wazirabad Fuel Station, said diesel and petrol rates remained unchanged 42afs and 44afs respectively.

Ahmad Javed, a liquefied gas dealer in the Taimani neighbourhood of Kabul, said a kilogram of gas accounted for 60afs.

mds/mud

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