FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo


Dec 29 , 2024

Tsehay Bank Breaks the Buck . . . And the Rules of Caution

Tsehay Bank rattled the foreign exchange market last week by offering a buying rate of over 125 Br to the U.S. Dollar, an unusual move attributed by industry observers to its executives' heightened scramble for hard currency. The Bank's rate posted on December 27, 2024, was 125.96 Br for buying, wel...

Dec 22 , 2024

As Liquidity Dries Up, Forex Market Becomes a Battleground for Survival

The modest depreciation of the Birr last week has amplified pressure on the foreign exchange market, exposing underlying systemic vulnerabilities in liquidity management and the stability of the banking industry. The average exchange rates, at 124.82 Br for buying and 127.27 Br for selling, appear relatively stable but mask worrisome volatility and institutional disparities. Notably, ZamZam Bank emerged as a Lead player, posting the highest rates of 124.99 Br for buying and 127.49 Br for selling. This signalled its aggressive bid to attract hard currency amid tightening liquidity conditions...


Dec 15 , 2024

Banks Tiptoe Around Forex Silent Rules, ShrinkingValues

Last week, the banking industry showed unusual uniformity in its posted foreign exchange rates. Most banks maintained a tight band and refrained from breaking what appeared to be an unofficial ceiling of around 125 Br to the DollaDollarbuying rates. Yet a handful of outliers—Goh Betoch, Gadaa, Enat banks, and Zam Zam Bank—stepped slightly outside these tacit boundaries. Between December 9 and December 14, 2024, the average buying rate across the industry neared 124.5 Br, while the selling rate settled around 126.8 Br. This narrow range was more than a statistical coincidence. The financia...


Dec 8 , 2024

Banks Push, Regulators Pull, the Birr Takes the Fall

The Brewed Buck moved subtly but persistently against the Green Buck over the past week, uncovering deeper structural issues in the foreign exchange market. Between December 2 and December 7, 2024, rates among banks did more than adhere to standard pricing patterns. They unveiled intriguing outliers. Chief among them was Goh Betoch Bank, offering noticeably higher rates and raising questions about its executives' rationales in a market normally defined by uniform spreads and the state-owned Commercial Bank of Ethiopia's (CBE) influence. During the six days last week, the Birr's buying rate av...

Money Market Watch

Dec 1 , 2024

As Brewed Buck Buckles, Economy Plays Tug-of-War with Liquidity, Sustainability

The Brewed Buck's persistent depreciation against the US Dollar continued unabated over the six days of last week, uncovering the mounting pressures on the fragile economy, besieged by a severe liquid...

Nov 24 , 2024

Dashen Bucks the Trend as Forex Market Tightens Grip on the Birr

Over the past week, the Brewed Buck has been under intensifying pressure, revealing cracks in the foreign exchange market. Banks were seen adopting varied tactics to respond to the scarcity of dollars...

Nov 16 , 2024

Banks Tiptoe Around the Forex Tightrope, but Dashen Dances to Its Own Tune

The foreign exchange market remained notably stable last week, with only subtle fluctuations in the value of the Brewed Buck against the Green Buck. Banks maintained a uniform spread over the six days...

Nov 9 , 2024

Banks Push the Birr to New Lows, Reform Remains a Far-Off Hope

Over the past week, the Brewed Buck has extended its persistent decline against the Green Buck. Between November 4 and 9, 2024, banks posted progressively higher exchange rates, manifesting mounting p...

Nov 3 , 2024

Banks Carve Out Forex Market with High Rollers, Middlemen, and Bargain Hunters

Over six days last week, the Brewed Buck has been on a subtle slide against the U.S. Dollar, with daily fluctuations displaying a persistent weakening trend. Banks have been adjusting their cash and t...

Oct 27 , 2024

CBE, Oromia Bank Break Ranks as the Brewed Buck Buckles

The Brewed Buck's persistent depreciation against the U.S. Dollar persisted over the past week, demonstrating an ongoing struggle with foreign currency shortages and mounting import pressure. The Birr...

Oct 20 , 2024

Mid-tier Banks Outmaneuver Heavyweights as Pressures Mount on Brewed Buck

The Brewed Buck slid noticeably against the U.S. Dollar over the past week, revealing shifts in the foreign exchange market during evolving banking strategies and the Central Bank's interventions. Bet...

Oct 13 , 2024

Brewed Buck on the Ropes as Banks Play Hardball in the Forex Frenzy

The Brewed Buck continued its steep decline against the U.S. Dollar last week, a slide that has accelerated since the National Bank of Ethiopia (NBE) liberalised the exchange market in late July. Desp...

Oct 6 , 2024

Birrs Steep Slide Fuels a Battle of Wills, Rising Costs

Last week, Birr experienced pronounced volatility against the U.S. Dollar, revealing deep-seated structural imbalances and an immediate liquidity crunch in the foreign exchange market. The turbulence...

Sep 28 , 2024

Banks Remain in a Desperate Scramble as Birr Continues to Bite the Dust

The Birr has continued spiralling downward against the U.S. Dollar over the past week, deepening the predicaments facing the country's financial system since the authorities liberalised the foreign ex...

Sep 22 , 2024

Wild Swings in Birr Rates Reveal Whos Playing It Safe

The foreign exchange market plunged into volatility last week in the aftermath of the Central Bank's decision to float the Birr, leading to sharp disparities in exchange rates among commercial banks....

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 intensi...

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...

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 flo...

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...

Aug 18 , 2024

Forex Volatility Reveal Birr's Struggle to Find Footing

The Birr took a notable tumble over six days last week, marking a continued turbulent time in recent memory. The National Bank of Ethiopia's (NBE) decision to float the currency, a historic move that...


Most read

Columns

Commentaries | Dec 28,2024

Ethiopia Bets Big on Floated Currency as Kenya Masters the Art of Stability

Life Matters | Dec 28,2024

When Appearance Dictates Respect, Attention

My Opinion | Dec 28,2024

Good Growth Requires Getting Public-Private Partnerships Right

Sunday with Eden | Dec 28,2024

A Journey Through Nature, Culture, History

Agenda | Dec 29,2024

Escaping Underemployment, Facing Low Wages at Home, Scam Factories in Myanmar

Editorial | Dec 28,2024

The Bureaucrats Turn to Masters of Misrule, Architects of Uncertainty


         ADVERTISEMENT

Read More

The Bureaucrats Turn to Masters of Misrule, Architects of Uncertainty

On a flight between Juba and Addis Abeba, Stefan Dercon, a professor of economic policy an...

Editorial | Dec 28 , 2024

E-bikes' Flat Tyre Seeks Authorities' Goodwill

For Netey Tesfaye, an electric bike offered a chance at a decent living, delivering goods...

Featured | Dec 15 , 2024 . By KALKIDAN NEGASH

Escaping Underemployment, Facing Low Wages at Home, Scam Factories in Myanmar

Shikur Naser, a 25-year-old civil engineering graduate, left for Bangkok, Thailand, in Sep...

Agenda | Dec 29 , 2024 . By ROBERA GETACHEW

DREAMS BETRAYED, TRAFFICKED, ENSLAVED

A 25-year-old civil engineer graduate left for Thailand in September 2023, lured by the pr...

Fortune News | Dec 29 , 2024