Is the Birr’s Depreciation Accelerating or Slowing Down?
The Birr has remained remarkably stable around 160.21 birr per US dollar in the National Bank of Ethiopia’s latest foreign-exchange auctions, but broader market data tell a less comfortable story. Over the latest 90 days, depreciation has accelerated against the dollar, yuan, dirham, riyal and Kenyan shilling, with much of the new pressure emerging in...