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[Aug 2017] Foreign Exchange (FOREX) in Ethiopia Latest Ethiopian News | Ethiopian Business Directory & Portal - Addis Biz

Ethiopia's Foreign Exchange Shortage Worsens

Foreign exchange ethiopian birr ETB US Dollar USD Problem BankEthiopia’s foreign currency supply available for importers and travellers alike is increasingly facing chronic shortages, claims an importer engaged in trading of household appliances from Asian countries, while opting to speak to Fortune on conditions of anonymity. As the country’s foreign

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The Increasing Foreign Exchange (FOREX) Problem in Ethiopia

One of Addis Abeba’s black markets for hard currency is also one within reach of the several branches of both public and private banks. People walking by are approached by ‘brokers’ and people seek out these exchange centresby foot or car and make their deals inside cars or in stores. When Fortune visited such a place for about half an hour on April 23, 2015, it observed 14 vehicles stopping by for transactions.

For a country that is increasingly constrained by hard currency shortages, with the ever widening balance of trade gaps,

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