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Counterfeit dollar banknotes cause concern in South Afghanistan

The spread of fake US Dollar banknotes has harmed the market's trust and interest in foreign currency exchange.

Counterfeit dollar banknotes cause concern in South Afghanistan

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  4 July 2022 5:07 AM GMT

KABUL: The influx of counterfeit dollars on the market has added to the concerns of many business owners and money exchange dealers in south Afghanistan.

According to the money exchange dealers in Kandahar and Helmand provinces, several people have attempted to trade newly manufactured counterfeit money in the market over the past two months, Khaama Press news agency reported. Counterfeit money, according to the money exchange dealers, decrease in the value of real money and an increase in prices (inflation) when more money circulates in the economy, which consequently disrupts the Afghan economy if not controlled.

In addition to that, they say the spread of fake US Dollar banknotes has harmed the market's trust and interest in foreign currency exchange. 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.

Previously, some said that the fake banknotes are very identical to the original banknotes, but there were still some differences that could help in differentiating them. Currency counterfeiting and fraud are crimes that consistently threatens a nation's economy and causes financial damage to its citizens. The Afghanistan Central Bank has not made any public comments despite the alarming trend. IANS

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