Afghanistan

Counterfeit Dollar banknotes influx money exchange markets

Written by The Frontier Post

KABUL (Khaama Press): The proliferation of new counterfeit dollars on the market is causing concern among many business owners and money exchange dealers in the provinces of Kandahar and Helmand, in the south of Afghanistan.
According to these money exchange dealers, several people have attempted to trade newly manufactured counterfeit money in the market over the past two months.
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.

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The Frontier Post