(ZEROHEDGE) – The announcement by Taliban spokesman Zahibullah Mujahid to completely ban foreign currencies in Afghanistan is a big deal. It may spark a cash crunch and downward spiral in the local economy that could lead to hyperinflation.
"The economic situation and national interests in the country require that all Afghans use Afghani currency in their every trade," Mujahid said, warning that those in violation of the new law will be prosecuted.
"The Islamic Emirate instructs all citizens, shopkeepers, traders, businessmen and the general public to henceforth conduct all transactions in Afghanis and strictly refrain from using foreign currency," the statement posted online reads.
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