Ethiopian Birr – DIGIT INFO

Egyptian Pound Latest African Currency to Slump to Record Low Versus US Dollar

DIGIT — Thu, 06 Oct 2022 09:00:41 +0000

The Egyptian pound recently became the latest currency from the African continent to see its value versus the greenback slump to a record low. The pound’s fall came amidst reports suggesting the Egyptian government is hoping to strike a loan deal with the International Monetary Fund (IMF) within a month or two. Egyptian Pound Still […]

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Report: Gap Between Ethiopian Currency’s Official and Parallel Market Exchange Rate Grows to New Record

DIGIT — Sun, 25 Sep 2022 09:00:02 +0000

The Ethiopian birr currency’s parallel exchange rate against the U.S. dollar recently dropped to a low of 92 birrs per dollar, a report has said. The report added that following this latest plunge, the gap between the birr’s official and parallel market exchange rates has widened to a record high. Resumption of Fighting Between Ethiopian […]

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Ethiopian Central Bank Restricts Amount of Cash Travelers Can Hold, Sets Foreign Currency Conditions

DIGIT — Tue, 13 Sep 2022 09:30:04 +0000

According to the National Bank of Ethiopia’s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new restrictions. Individuals may not hold local currency whose value exceeds $57.00 or 3,000 birr. The directive also sets conditions and circumstances under which Ethiopian residents […]

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Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions

DIGIT — Wed, 08 Jun 2022 11:30:43 +0000

The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in […]

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Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding

DIGIT — Thu, 17 Sep 2020 21:15:38 +0000

The Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy. In a statement released via Twitter on September 14, […]

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