cbe

USD
124.0086
126.4888
,
GBP
152.3866
155.4343
,
EUR
128.3365
130.9032
,
CHF
134.1436
136.8265
,
SEK
11.0023
11.2223
,
NOK
10.7134
10.9276
,
DKK
16.8993
17.2373
,
DJF
,
JPY
0.7759
0.7914
,
CAD
84.628
86.3206
,
SAR
33.0073
33.6675
,
AED
33.7659
34.4412
,
INR
,
KES
,
AUD
75.3049
76.811
,
ZAR
,
CNY
16.6728
17.0063
,
KWD
394.889
402.7867

awash

USD
131.7137
134.348
,
GBP
172.569
176.0204
,
EUR
146.8101
149.7463
,
JPY
0.779
0.7946
,
SAR
31.6982
32.3322
,
AED
32.376
33.0235
,
CAD
85.9366
87.6553
,
CHF
142.8608
145.718
,
NOK
10.6797
10.8933
,
DKK
17.2822
17.6278
,
SEK
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

abyssinia

USD
131.4713
134.1007
,
GBP
167.7564
171.1115
,
EUR
141.9513
144.7903
,
AED
35.4076
36.1158
,
CHF
156.9981
160.1381
,
SEK
13.3964
13.6643
,
NOK
12.5141
12.7644
,
CAD
94.083
95.9647
,
SAR
34.6777
35.3713
,
CNY
17.8859
18.2436

abay

USD
131.4715
134.1009
,
GBP
175.4487
178.9577
,
EUR
149.3516
152.3387
,
AED
35.7882
36.504
,
ZAR
7.18
7.3236
,
SAR
35.0488
35.7498
,
JPY
0.9176
,
CHF
159.5141
162.7044
,
AUD
85.0621
86.7633
,
CNY
18.1955
18.5594

zemen

CAD
94.7006
96.5946
,
EUR
146.8004
149.7364
,
GBP
168.7161
172.0904
,
SEK
13.5814
13.853
,
USD
131.8582
134.4954

buna

USD
131.7095
134.3437
,
EUR
146.9991
149.9391
,
GBP
164.1011
167.3831
,
AED
35.7075
36.4217
,
SAR
34.1012
34.7832
,
CAD
89.1012
90.8832
,
AUD
64.239
65.5238
,
JPY
0.8603
0.8775

nib

USD
129.9616
132.5608
,
GBP
173.3168
176.7831
,
EUR
148.553
151.5241
,
CHF
158.7317
161.9064
,
CAD
93.8792
95.7567
,
AED
35.383
36.0906
,
SAR
34.643
35.3359

berhan

USD
130.1163
132.7186
,
EUR
147.2378
150.1826
,
GBP
168.7243
172.0988
,
CAD
94.294
96.1799
,
AED
35.4193
36.1277
,
CNY
18.0079
18.3681

wegagen

USD
131.7779
134.4135
,
GBP
174.4081
177.8962
,
EUR
147.9471
150.9061
,
CHF
158.5421
161.7129
,
SEK
13.5336
13.8043
,
CNY
18.1854
18.5491
,
JPY
0.9093
0.9275

dgb

USD
128.1012
130.6632
,
EUR
137.0599
139.8011
,
GBP
157.4803
160.6299
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
36.7329
37.4675
,
CAD
79.1617
80.7449

enat

USD
130.113
132.7153
,
EUR
146.0817
149.0033
,
GBP
169.8271
173.2236

ahadu

USD
131.0784
133.7
,
GBP
174.1091
177.5913
,
EUR
147.0413
149.9821
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

EUR
147.598
150.55
,
GBP
171.4862
174.9159
,
USD
131.6345
134.2672
,
CHF
159.7118
162.9061
,
JPY
0.9188
0.9372

dashen

USD
131.6771
134.3106
,
EUR
146.1616
149.0848
,
GBP
169.5081
172.8983
,
CAD
86.1165
87.8388
,
AED
32.4434
33.0923
,
SAR
31.7645
32.3998
,
CNY
16.5064
16.8366

oromia

lion

USD
131.7396
134.3744
,
GBP
170.7722
174.1876
,
EUR
146.2176
149.142

developmentbank

USD
130.1388
132.7416
,
GBP
173.6702
177.1436
,
EUR
147.8377
150.7944
,
CHF
157.8971
161.0551
,
SEK
13.5604
13.8316
,
NOK
12.6509
12.9039
,
DKK
19.8138
20.21
,
DJF
0.7289
0.7434
,
JPY
0.9083
0.9265
,
CAD
94.3103
96.1965
,
SAR
34.6935
35.3874
,
AED
35.4254
36.1339
,
INR
1.535
1.5657
,
KES
1.0057
1.0258
,
AUD
84.1998
85.8838
,
SDR
176.4552
179.9843
,
ZAR
7.1072
7.2493
,
CNY
18.011
18.3713
,
KWD
424.4217
432.9101

coop

USD
130.9106
133.5288
,
GBP
168.331
171.6976
,
EUR
143.4649
146.3342
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128

gadaa

USD
131.1154
133.7377
,
GBP
162.83
166.0866
,
EUR
149.8136
152.8099
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
131.7263
134.3608
,
EUR
143.2268
146.0913
,
GBP
167.2538
170.5989
,
SAR
35.2684
35.9738
,
AED
36.0154
36.7357

amhara

USD
131.98
134.6196
,
GBP
176.7344
180.2691
,
EUR
150.1668
153.1702
,
CAD
95.3268
97.2334
,
AED
35.9335
36.6521
,
SAR
35.1834
35.8871

tsehay

USD
131.5382
134.169
,
GBP
160.2439
163.4488
,
EUR
130.0158
132.6161
,
CAD
86.9537
88.6927
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
131.8961
134.534
,
EUR
149.069
152.0504
,
GBP
175.8703
179.3877
,
AED
35.9077
36.6258
,
CHF
159.816
163.0123
,
SEK
13.6769
13.9505
,
NOK
12.7444
12.9993
,
DKK
19.9788
20.3784
,
DJF
0.7387
0.7535
,
INR
1.5435
1.5743
,
JPY
0.9109
0.9291
,
CAD
94.9508
96.8498
,
SAR
35.1639
35.8671
,
ZAR
7.2749
7.4204
,
CNY
18.2217
18.5862
,
KWD
430.2187
438.8231
,
KES
1.0185
1.0389

siinqee

USD
129.9897
132.5895
,
EUR
140.9693
143.7887
,
GBP
162.7073
165.9614
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
32.7831
33.4388

hibret

USD
0
0
,
EUR
146.0001
148.9201
,
GBP
170.5219
173.9323
,
CHF
150.0203
153.0207

gohbetoch

nbe

JPY
0.9185
0.9277
,
KWD
427.064
431.3347
,
CNY
17.9273
18.1066
,
ZAR
6.9352
7.0045
,
XDR
167.9726
169.6523
,
EUR
148.7559
150.2434
,
AED
35.6609
36.0175
,
SAR
34.9082
35.2573
,
AUD
83.482
84.3168
,
CAD
94.0908
95.0317
,
USD
130.9932
131.3238
,
KES
1.0088
1.0391
,
INR
1.5287
1.544
,
DJF
0.7336
0.7557
,
DKK
19.9208
20.12
,
NOK
12.328
12.4512
,
SEK
13.3275
13.4608
,
CHF
160.5899
162.1958
,
GBP
173.7101
175.4472

binance

USDT
158.9
158

IMF and World Bank are going to advise against having a bilateral currency for 1 week

IMF and World Bank

 

 

IMF and World Bank announced that they are going to hold a meeting this week to find a solution to stop the bilateral foreign exchange market in Ethiopia.

It has been stated that the meeting will be held side by side with the annual spring meeting of the two institutions, (IMF and World Bank)  which started this week.

 

The Ethiopian delegation, including the governor of the National Bank of Ethiopia, Mamo Mehretu, and the finance minister, Ahmed Shede, is in Washington to attend the summit.

 IMF and World Bank are going to advise against having a bilateral currency market in Ethiopia on the coming week

In the joint discussion held by World Bank President Davey Mallyas and the IMF Director General Christina Georgios, expressed their hope that a solution can be found from the conference, especially how countries like Ethiopia can get out of their complex problems. According to the World Bank president, most of the 120 million people in Ethiopia are suffering due to the bilateral market system. It is been Four years since the president of the World Bank comes to their position and both officials David Mallyas and Christina Georgios visited Ethiopia in 2019.

“The bilateral currency market in Ethiopia has been a major bottleneck. The illegal parallel market is also very expensive and serves only a few. Therefore, the Ethiopian currency market could not be effective. so the main aim of the IMF and World Bank  gathering up is to solve this problem,” said David Malias. The officials pointed out that a concrete decision regarding debt transfer is expected from this meeting. What is more, is that it is expected that lenders will consult with borrowers around the same table for the first time.

The meeting will be held from Monday to Sunday. However, to benefit from the debt transfers of developing countries agreed to by rich countries and other lenders under the guidance of the IMF, Ethiopia has been asked as a condition for currency unification.

To unify the legal currency market and the parallel market, it is mandatory to reduce the purchasing power of silver to at least double its current level (Devaluation) and equalize the black market, sources said.

The reporter’s sources stated that the IMF’s expert team, which visited Addis Ababa in the last two weeks, reinforced this position and explained it to the Ethiopian authorities.

IMF and World Bank do not think that Ethiopia has a shortage of foreign currency. They conclude that the problem is currency management. For this reason, their recommendation is to lower the purchasing power of silver again and make the black market currency equal to its current level.
After that, they think that the black market will not be able to go higher than the current average of around 100.00 Birr or it will take a long time,” says an economic consultant who is close to the issue.

According to a consultant, the national bank where the decision was implemented will soon reduce the purchasing power of silver, which has not been controlled in the past years.

However, although this decision may bring more foreign currency to the National Bank, the side effect is to favor imported products and worsen the inflation in Ethiopia, they say.

In a brief statement released by the IMF expert group, which concluded their week-long stay last Saturday, they stated that they have reached an agreement with the Ethiopian government to support indigenous economic reform number two.