The western Afghan city of Herat has become a thriving hub for the money exchange business, a consequence of geography and politics. Money-changers throng the currency market carrying thick stacks of Iranian currency, much of it brought in by the hundreds of thousands of Afghan workers who earn their living in Iran.
While the stacks of crisp 100,000 rial notes that money-changers bring to the market might look like a small fortune, the 10 million rials in each of these stacks is worth less than $400, because the Iranian currency recently lost more than half of its value.
