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The National Bank of Ethiopia (NBE) devalues Ethiopian Birr by 15pc

Following President Mulatu Teshome’s (PhD) speech in the Parliament yesterday, the National Bank of Ethiopia (NBE) has announced the devaluation of Birr by 15pc and the raise of the interest rate by two percentage points to seven percent. Now, the Ethiopian Birr is at 26.91 to the dollar, up from 23.40 Br which will be effective from tomorrow, October 11, 2017.

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