Honestly, if you looked at a chart of the global economy right now, the last place you’d expect to find "stability" is Kabul. But here we are. As of mid-January 2026, the rate for one US dollar to afghani is hovering right around 65.50 AFN.
It’s weird.
While neighboring currencies—like the Iranian rial—are basically in a freefall, the afghani (AFN) has spent the last couple of years becoming one of the best-performing currencies in the world. You’ve probably heard people call it a "miracle," but when you dig into the mechanics of how the Da Afghanistan Bank (DAB) is running things, it looks less like a miracle and more like a very tight, very controversial grip on the steering wheel.
The current reality of one US dollar to afghani
Right now, if you walk into a Sarai Shahzada money exchange, you're getting about 65 afghanis for every 1 USD. To put that in perspective, back in 2021/2022, that number was swinging wildly toward 100 or even 120.
The stability isn't an accident.
It’s the result of some pretty intense "market management." Basically, the central bank auctions off about $15 million to $16 million USD every single week. They do this to soak up excess afghanis and keep the demand for the dollar from spiking. Without those weekly injections of hard cash, the rate for one US dollar to afghani would likely look a lot different.
Why the Afghani isn't crashing (Yet)
It’s tempting to think a strong currency means a booming economy. In Afghanistan’s case, it’s a bit more complicated than that.
✨ Don't miss: Albert Huddleston Net Worth: What Most People Get Wrong About the Texas Oil Tycoon
The Cash Shipments
The biggest factor is the literal planes full of cash. Since 2021, the UN has been flying in millions of dollars in physical banknotes for humanitarian aid. This cash isn't going straight to the government, but it is entering the local economy. It provides the liquidity that keeps the system from seizing up. When there’s a steady supply of dollars, the value of one US dollar to afghani stays suppressed.
Banning the Competition
You can’t just use any currency you want in Afghanistan anymore. The interim government strictly banned the use of the Pakistani Rupee and the US Dollar for local transactions. If you're buying groceries in Herat or Jalalabad, you’re using afghanis. This forced demand is a huge reason why the currency holds its value.
Capital Controls
It’s also incredibly hard to get money out of the country. If you can’t move your wealth into foreign banks or buy property abroad, you’re stuck holding the local currency.
The "Purchasing Power" Paradox
Here is where it gets kind of depressing.
Even though you get fewer afghanis for one US dollar to afghani than you used to, prices for actual stuff—bread, oil, fuel—remain painfully high for the average person. We’re seeing a period of deflation in some sectors because nobody has any money to spend.
High unemployment means there’s no demand.
No demand means prices drop.
Falling prices make the currency look "strong" on a chart, but for a family in Kabul, it just means they can’t afford the things that are sitting on the shelves.
Real-world numbers for January 2026
If you’re tracking the rate for a business or sending money home, here is the rough breakdown of what that 65.50 AFN actually buys you today:
- 1 kg of Flour: Roughly 30-35 AFN (so you get about 2kg for $1).
- 1 liter of Petrol: Hovering around 60-65 AFN. Basically, one US dollar to afghani gets you exactly one liter of gas.
- A Loaf of Nan: About 10-15 AFN.
It’s a fragile balance. Most experts, including those at the World Bank and IMF, point out that this stability is entirely dependent on the continuation of international aid and the central bank's ability to keep auctioning off dollars.
What happens next?
If you're holding afghanis or planning a transaction, you need to watch the border trade with Pakistan. Recently, trade volumes have dropped by nearly 40% due to border closures at Torkham and Spin Boldak. If Afghanistan can't export its coal and fruit, the demand for afghanis will drop, and the rate for one US dollar to afghani will start climbing again.
What you should actually do:
- Check daily rates: Don't rely on "official" rates if you're using a private money changer; they often vary by 1-2%.
- Watch the UN announcements: If humanitarian cash shipments are paused or reduced, expect the afghani to weaken almost immediately.
- Diversify if possible: While the afghani is stable for now, it is a "managed" currency. In the long term, its value is tied to political recognition and aid flows that are anything but guaranteed.
Keeping an eye on the one US dollar to afghani rate isn't just about business—it’s the clearest pulse check we have for the country's survival. For now, the pulse is steady, but the patient is still on life support.