#Ethiopia shifts to market-based exchange rate with immediate currency devaluation The National Bank of Ethiopia (#NBE) announced today a major revision of the country's foreign exchange regime, shifting to a market-based exchange rate effective immediately. Following the announcement, the Commercial Bank of Ethiopia released a new exchange rate, devaluing the birr by 30 percent against the dollar. In April, Reuters reported that Ethiopia might need to consider a significant currency devaluation
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#Ethiopia shifts to market-based exchange rate with immediate curr…
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13 Big changes in Ethiopian's Currency ($) Exchange reform, that extremely affects the Economy
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