black market exchange rate dollar to birr

The dollar shortage has also dissuaded international firms from investing out of fear they will struggle to repatriate profits.

Since earlier this year, essential items including insulin, blood pressure medication and infant formula have become scarce. “All of a sudden this is happening,” said one real estate agent whose business had come to a standstill over the past year because the construction sector could not access dollars to import building materials.Ī decade-long infrastructure push aimed at industrialising the overwhelmingly agrarian nation to create jobs has as a side-effect exacerbated the dollar shortage.

* New prime minister has turned politics, economy on its headĪDDIS ABABA, July 20 (Reuters) - A “hard currency amnesty” and reform-driven confidence in Ethiopia’s economy, both at home and abroad, have helped close a once yawning gap between the official and black market exchange rates for its birr currency.Īs cash - in some cases briefcases full of dollars - pours into banks, local businesses say they are finally feeling relief from a foreign exchange crunch that had seen some segments of the economy grind to a halt.īusinesses and analysts in the capital Addis Ababa told Reuters on Friday the birr was trading on the parallel market around 28 to the dollar, close to parity with the official rate and 25 percent firmer than three months ago. Euro to Dollar Summer 2023 Forecast: 'Could Bounce Around 1.08-1.* Ethiopia’s economy has faced crippling forex shortage.Daily FX 07.07.23 Update: US Jobs Data Key Risk to Pound Versus Euro, Dollar TodayPound US Dollar Exchange Rate Outlook.US Dollar to Yen Rate Forecast: 'Towards 150 if Breaks Past 145' say MUFGUSD/JPY Forecast: US Dollar Could Target 150 if it breaks past 145.US NFP Preview: Key Bank and FX Analyst Views and Likely Dollar Reaction.US Dollar Today: NFP and Inflation data Key in Deciding Fed Policy Outlook.Pound to Dollar Rate Above 1.2700 Ahead of Important US JobsYields Still in the Driving Seat.Pound US Dollar (GBP/USD) Exchange Rate Rallies on Softer Jobs Report.Latest Dollar News, Predictions and Forecasts from Our News Team Handy Conversion Data Table Ethiopian-Birr to Dollars Q: Is the Ethiopian Birr going up or down against the Dollar?Ī: Today's exchange rate (0.0182) is the same value compared to yesterday's rate (0.0182).Ī: 50 Ethiopian Birr buys 0.91 Dollars at interbank exchange rates. Q: What is the Ethiopian Birr worth against the Dollar?Ī: One Ethiopian Birr is worth 0.0182 Dollars today To convert Ethiopian Birr to Dollars or determine the Ethiopian Birr Dollar 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 ETB/USD exchange rate history page

Black market exchange rate dollar to birr