By Beatrice Pauline Otieno
According to the Commercial Bank of Ethiopia information, the exchange rate applicable for 7th November 2024 Ethiopian Birr (ETB) USD and other major currencies was as follows
The information above suggests USD high demand is expected, ETB has slightly depreciated against the dollar according to the official rate of the Commercial Bank of Ethiopia.
The fluctuations are attributed to shortage of currency and economic instability.
According to sources,, the depreciation of the Ethiopian Birr (ETB) against the US Dollar (USD) has been because of Ongoing external pressure and dwindling foreign reserves.
On the other hand, the margins in other currencies such as GBP, INR, and other currencies are tied to uncertainties in shifts in different economies in the world.
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