Meanwhile, inflation soared to 32.5% in August. The International Monetary Fund in June said Ethiopia’s economic growth may slow to 3.8% in 2021-22, because of the conflict, lower agricultural production, a fall in donor financing and intensifying foreign exchange shortages, drought, and spillovers from the war in Ukraine.Įthiopia’s foreign-exchange reserves stood at $3.3 billion at the end of 2021, covering just 1.9 months of the country’s import costs, according to an East Africa Macroeconomic Outlook published by Deloitte LLP.
The imbalance between foreign-currency supply and demand is problem, he said, adding that government monetary policies are less effective due to the high cost of the near two-year war with the dissident northern Tigray region.Ī truce agreed to in March ended in August, worsening the humanitarian and economic situation in Africa’s second-most populous country. He declined to directly comment about the unofficial exchange rate. The exchange-rate gap is widening mainly due to heightened risk surrounding the ongoing conflict in the country, Fikadu Digafe, vice governor and chief economist at the central bank, said in a phone interview. On Wednesday, the birr traded as high as 92 a dollar on the black market, while the official rate remained at 52.5, according to people familiar with the matter who asked not to be identified speaking about the parallel market. Q: Is the Dollar going up or down against the Ethiopian Birr?Ī: Today's exchange rate (54.73) is the same value compared to yesterday's rate (54.73).Ī: 50 Dollars buys 2736.5 Ethiopian Birr at interbank exchange rates.(Bloomberg) - The gap between the Ethiopian currency’s official and parallel-market exchange rates widened to a record as foreign reserves dwindled and fighting in the country’s north resumed. Q: What is the Dollar worth against the Ethiopian Birr?Ī: One Dollar is worth 54.73 Ethiopian Birr today To convert Dollars to Ethiopian Birr or determine the Dollar Ethiopian Birr exchange rate simply use the currency converter on the right of this page, which offers fast live exchange rate conversions today! For full history please visit USD/ETB exchange rate history page
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