Category: birr
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Ethiopia’s birr drops 30% as central bank floats currency By Reuters
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Written by Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia’s central bank decided to float the country’s birr currency on Monday, a move the government hopes will secure International Monetary Fund support and make progress on a long-delayed debt restructuring. The Commercial Bank of Ethiopia, the country’s largest lender, said the…