The latest weekly bulletin by the CBK shows the reserves stood at $9,323 million (Sh1.2 trillion at the current exchange rate), an equivalent of (4.8...

Ethiopia has been under pressure, including from the International Monetary Fund (IMF), to move to a market-determined exchange rate to deal with an o...

They are accussed of defrauding the businessmen by claiming they could sell them US dollars at an exchange rate of Sh120.

The decision is a win for the utility company which has recently faced challenges due to increased forex losses.