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

Read More News Here Source link

See Also:  'By Ethiopians, for Ethiopians': girl band Yegna shake off Spice Girls tag | Claudine Spera | Global development

Recommended For You

Leave a Reply

Your email address will not be published.

More From Our Site