The Ethiopian birr's exchange rate has slid further. Currency auctions signal a quiet capitulation.
According to information from Addis Fortune, the birr exchange rate has slid further. This news comes from the Ethiopian business news outlet Addis Fortune. Currency auctions indicate a quiet capitulation in the birr's parity. This development highlights the financial market in Ethiopia. Additional details are available in the sources.
Reportado por IA Imagen generada por IA Verificado por hechos
Tenderos y comerciantes iraníes protestaron en Teherán durante el fin de semana y hasta el lunes después de que el rial cayera a nuevos mínimos récord en el mercado no oficial, lo que provocó cierres de tiendas en partes de la capital y un renovado escrutinio sobre la gestión del gobierno de la inflación y la volatilidad cambiaria.
One month after initial appreciation driven by central bank efforts, the Ethiopian birr continues to hold steady, with commercial banks aligning their strategies to support currency resilience, according to Addis Fortune.
Reportado por IA
Following its ranking as the third weakest global currency in 2025, the Ethiopian birr has shown a slight appreciation against major currencies, driven by National Bank of Ethiopia interventions to stabilize the foreign exchange market.
The Ethiopian Commodities Exchange (ECX), founded in 2008, has seen its revenues drop by 22% over the past three years, with its customer base shrinking to just 510 active members. In 2023, it traded only 64% of its planned market volume and collected less than 22% of the nearly two billion Birr it was expected to generate over the last two fiscal years.
Reportado por IA
Ethiopia's capital market is entering a new phase as regulators prepare to launch a Compensation Fund to protect small and retail investors from losses due to fraud or operational mishaps. The draft regulation proposes a maximum payout of 100,000 birr for eligible retail investors. The fund will draw support from contributions by capital market service providers and the Securities Depository & Clearing Company.
Ethiopian Re-Insurance S.C. (Ethio-Re), the country's sole reinsurer and a critical backstop for domestic insurers, faces shrinking capital. This development stems from the impact of forex reforms.
Reportado por IA
Ethiopia's push for digital payments is encountering resistance from cash preferences, as reported in a recent article. The piece from Addis Fortune highlights this ongoing challenge in the country's financial landscape.