The statement noted that the weighted average rate of all successful bids was birr 107.9 per USD.

Birr has lost approximately 70 per cent of its value against the dollar since the flotation was announced on July 29, with exchange rates varying wide...

PM Abiy also established a task force to ensure the measures put in place to cushion the vulnerable are not exploited. 

“Will some people be hurt by inflation? Yes. But this isn’t about striking gold or birr; it’s about making tough choices with significant benefits,” P...

It remains to be seen how PM Abiy will navigate these reforms, especially in light of the developments in Kenya and Ghana where both countries are fac...

The birr currency fell 30 per cent against the dollar to 74.73 per dollar after the restrictions were lifted, the biggest commercial lender said.