Ethiopia's central bank devalues currency by 15 percent, hikes rates * Mareeg.com somalia, World News and Opinion.
Mareeg Media
Somalia

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)

Get real time updates directly on you device, subscribe now.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Do NOT follow this link or you will be banned from the site!