how much is 1 dollar in birr in black market

Nearby, three bank employees were counting bills from a briefcase packed with $1 million in cash that a client had brought in earlier in the day.

Let me show you an example’,” said Zemedeneh Negatu, chairman of Fairfax, a United States-based, Africa-focused investment firm. “This morning I was talking to a manager at Commercial Bank of Ethiopia who told me ‘We are very liquid right now. Some remain sceptical, but at least for now Ethiopians are breathing a sigh of relief. It remains to be seen if the government is now willing to loosen its grip on foreign exchange access and the exchange rate itself. On Thursday, Abiy’s newly appointed central bank governor, Yinager Dessie, pledged to meet the business community regularly and pledged that their main concerns - scant access to credit and foreign exchange - were government priorities.īusinesses in the capital said their letters of credit, which banks had declined to honour for months, were finally being approved. The exchange rate of the United States Dollar in relation to the Ethiopian Birr on the chart, the table of the dynamics of. “From the African Development Bank, we are looking for how we are going to make investments to support that, so that we can turn the new engagement that they have into one in which they will benefit from dividends of peace between those two countries,” Adesina told Reuters in Nairobi. The cost of 1 United States Dollar in Ethiopian Birr today is 54.91 ETB according to the Open Exchange Rates, compared to yesterday, the exchange rate remained unchanged. The rapprochement between the neighbours should also allow for better economic relations, which are critical for the economic growth of the two countries, African Development Bank (AfDB) President Akinwumi Adesina said on Friday. His moves to liberalise the economy by opening up lucrative state-owned assets to foreign investment have been cheered by his people as well as outside investors keen to enter one of Africa’s last untapped markets.īesides his stated desire to attract foreign capital into one of Africa’s most closed states, Abiy has brokered peace with Eritrea, with whom Ethiopia fought a border war two decades ago. Q: Is the Euro going up or down against the Ethiopian Birr?Ī: Today's exchange rate (60.7802) is higher compared to yesterday's rate (59.992).Ī: 50 Euros buys 3039.01 Ethiopian Birr at interbank exchange rates.Since taking office in April, Abiy has turned politics and the economy on its head in the nation of 100 million people. Q: What is the Euro worth against the Ethiopian Birr?Ī: One Euro is worth 60.7802 Ethiopian Birr today To convert Euros to Ethiopian Birr or determine the Euro 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 EUR/ETB exchange rate history page

How much is 1 dollar in birr in black market