Ethiopian birr slides to record low amid FX-auction squeeze
The Ethiopian birr weakened to 163.4 per USD, a record low, even as Ethiopia’s central bank spent about $2.2 billion this year to support the currency and FX auction demand outpaced supply.
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The Ethiopian birr weakened to 163.4 per USD, a record low, even as Ethiopia’s central bank spent about $2.2 billion this year to support the currency and FX auction demand outpaced supply.