Tag Archives: devaluation

Ethiopia devalues currency by 15%

ESAT News (October 10, 2017) Ethiopia has devalued its currency, the Birr (ETB), by 15%. The dollar will be exchanged against 26.9 Birr effective tomorrow October 11, 2017, compared to the current 23.4 Birr, according to the National Bank of Ethiopia. Speaking at a press conference in Addis Ababa, Vice Governor of NBE, Yohannes Ayalew said the move will help ...

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Ethiopia to devalue currency

ESAT News (September 26, 2017) Ethiopia is to devalue its currency in a bid to cope with the serious foreign currency crunch it has faced and in attempt to cover a billion dollar loan payment due this years, according to information obtained by ESAT. There is also talk of selling the government owned Hilton Hotel and 50 per cent shares ...

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