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Ethiopia’s central bank devalues currency by 15 percent, hikes rates

ADDIS ABABA, Oct 10 (Reuters) – Ethiopia’s central bank has devalued the Ethiopian birr by 15 percent to boost lagging exports, its deputy governor announced on Tuesday.

The bank also raised its main interest rate to 7 percent from 5 percent, he said.

Reporting by Aaron Maasho; editing by John Stonestreet

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