dollar to ethiopian birr black market today

The Ethiopian Birr Black Market ThrivesĪlthough, conducted in secrecy, it is rumored that there is a flourishing Ethiopian Birr black market currency exchange within the country.Īt the time of writing this, the official dollar to Ethiopian birr exchange rate was 32.92 birr and the black market exchange rate was 44.90 to 46.00. Enhanced security features on the new notes will also cease counterfeit production.ġ. The new notes will curb financing of illegal activities corruption & contraband. Prime Minister Abiy Ahmed of Ethiopia announced the unveiling of new Birr notes for 10, 50 and 100 denominations, with introduction of a new Birr 200 note. Update - New Ethiopian Birr Note Currency The following are 10 incredible things to know about the Ethiopian Birr, for both Ethiopians and foreigners alike. Yesterday's negative image of a famine struck country has slowly started to transition its way into the pages of history, where they are bound to stay.Īside from being among the top in the world in coffee, livestock, and various other agricultural commodities, Ethiopia is now also engaging in the industrial sector, one that has a huge potential for a country so rich in resources.įurthermore, the growth is fuelled by aggressive expansion by huge public expenditure on hydroelectric power dams, electric railway systems for city transport as well as to ports in Djibouti, and a sophisticated highway road system being built across the country.Įthiopia is also looking very attractive to international investors, and the Chinese, Turkish, Saudis, and Indians are already among those heavily invested in this fast growing economy.ĭue to these reasons and more, the Ethiopian Birr will surely have its prominence in the international market increase. The Ethiopian Birr is also raising its profile in the international finance market.Ī government intent on development at any cost and a bright population hungry for change are behind this rapid growth in the economy. Today, Ethiopia is known as one of the fastest growing economies not only in Africa but in the world.

Dollar to ethiopian birr black market today