Money Market Watch

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Sep 14 , 2024

Banks Woo Forex Remitters Amid Holiday Calm as Birr Continues Slide

Birr's relentless depreciation against the U.S. Dollar took a brief pause last week as the New Year holiday introduced an unusual calm to the forex market. Yet, beneath the surface, banks were intensifying efforts to counter the thriving parallel market by offering lucrative incentives to attract fo...

Sep 8 , 2024

Banks Push Boundaries with Widening Forex Spread

The Birr's depreciation against the US dollar has notably accelerated over the past week, unfolding the economic impact of the central bank's decision to float the currency a month ago. Following the major policy shift, liberalising the foreign exchange market, the market has seen rapid fluctuations in exchange rates, with the Birr losing value steadily. Between September 2 and 7, 2024, a downward trend was observed as the Birr weakened across both buying and selling rates. A comparative analysis of the exchange rates posted by 17 commercial banks revealed a depreciation pattern that, while...

Sep 1 , 2024

In a Tailspin, Birr Continues to Float into a Sea of Uncertainty

The Birr has continued to see a sharp depreciation against the U.S. dollar over the six days last week, exposing the economy's fragility following the National Bank of Ethiopia's (NBE) decision to float the currency. Intended to align the Birr with market dynamics, boost exports and attract foreign investment, the policy shift instead unleashed volatility and a rapid decline in the currency's value between August 26 and August 31, 2024. An analysis of exchange rates across 17 banks during this period reveals what should be an unsettling trend. The Birr has consistently lost value, with buyi...

Aug 25 , 2024

Birr Learns the Hard Way That Gravity Isnt Only for Apples

The Birr has faced a precipitous depreciation against the US dollar over the six days last week, a period marked by policy shifts in the foreign exchange market. From August 19 to August 24, 2024, the Birr's decline has been unrelenting, uncovering the profound impact of the central bank's recent decision to float the Birr and open the foreign exchange market. A decisive move by the federal government to reach a deal with the IMF, the monetary policy change is designed to address chronic foreign currency shortages and align the official exchange rate more closely with the parallel market. H...

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Banks Woo Forex Remitters Amid Holiday Calm as Birr Continues Slide

Banks Push Boundaries with Widening Forex Spread

In a Tailspin, Birr Continues to Float into a Sea of Uncertainty

Birr Learns the Hard Way That Gravity Isnt Only for Apples

No More Money Market Watch Found

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Banks Woo Forex Remitters Amid Holiday Calm as Birr Continues Slide

Banks Push Boundaries with Widening Forex Spread

In a Tailspin, Birr Continues to Float into a Sea of Uncertainty

Birr Learns the Hard Way That Gravity Isnt Only for Apples

No More Money Market Watch Found

Drowning in Budget Gap, Universities Chase Autonomy. Can They Afford It?

A Year of Musical Riches

Holiday Market Dampened by Rising Food Prices

SOARING PRICES DAMPEN FESTIVE SPIRITS

Drop us a message

COVID UPDATE

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