Since taking office in April, Abiy has turned politics and the economy on its head in the nation of 100 million people. 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.
When we compare today’s () values with the last 7 days, average Dollar to Naira rate had a 9.39 points increase from ₦878.11 to ₦887.50 which corresponds to a 1.07% rise.ĭollar to Naira exchange rate in Nigeria black market is between ₦870 and ₦882 with an average of ₦876.00 today on, according to 2 buy rates shared by the users as comments.* Ethiopia’s economy has faced crippling forex shortage
cannot guarantee correctness of the buy rates shared by users listed above.ĭollar to Naira exchange rate in Nigeria black market is between ₦880 and ₦895 with an average of ₦887.50 today on, according to 2 sell rates shared by the users as comments.įor the last 7 days, between and, Dollar to Naira black market sell rate took values between ₦860 and ₦895 with an average of ₦878.11. Some buy rates extracted from the user comments on this page: Currency cannot guarantee correctness of the sell rates shared by users listed above. Some sell rates extracted from the user comments on this page: Currency
Please, DO NOT TRADE with the users listed here use this platform only for data purposes. cannot guarantee trustworthiness of the contacts listed here.
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