A recent Addis Fortune article highlights ongoing challenges in Ethiopia's foreign exchange market, where the true exchange rate is difficult to determine amid market opacity.
Addis Fortune reports that in Ethiopia's forex market, the real exchange rate stays out of sight, complicating transactions and market transparency. This follows coverage of small banks influencing the market's gradual adjustments, underscoring persistent issues in the sector.
Ethiopia's forex market appears calm but is under administrative watch, according to reports. This insight comes from Addis Fortune, a leading Ethiopian business news source.
Raportoinut AI
Ethiopia's National Bank has launched an automated trading system that transforms the foreign exchange management framework. This new platform enables real-time interbank forex trading. It marks a significant update in the country's financial infrastructure.
The Ethiopian birr depreciated modestly in early January, with official mid-rates rising by 0.32 birr over six days. Commercial banks set buying rates between 152.55 and 152.85 birr per dollar, though outliers like Zemen Bank reached 153.23 birr, hinting at varied strategies. The parallel market rate hit 188 birr per dollar, widening the gap with official figures.
Raportoinut AI
Ethiopia's birr has recorded the third weakest performance among global currencies tracked by Bloomberg in 2025, trailing only the Argentine peso and the Turkish lira.