![]() ![]() This exorbitant premium of over 100% marks a significant occurrence in the nation’s economic history.Įthiopia is among the countries globally grappling with a substantial decline in its currency’s value. With the official rate currently hovering around 55 birr per dollar, the scarcity of hard currency has now driven the black-market value of a dollar to exceed 110 birr. However, the current state of affairs has reached unprecedented levels, with the exchange rate soaring to unparalleled heights. Since January 2022, the birr, has depreciated against the US dollar by a stunning 39% (Photo: )Īddis Abeba – The local currency, the birr, has been experiencing a long-standing decline in value against major international currencies, most notably the US dollar. Ethiopia is one of the nations dealing with a sharp decrease in the value of its currency. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |