Ethiopian Birr (ETB)
a.k.a. ETB, Birr
Ethiopia's currency, code ETB, which moved to a market-based rate in 2024 after years of tight control.
In plain English
Ethiopia's currency, code ETB, which moved to a market-based rate in 2024 after years of tight control.
The Ethiopian birr (ETB) was long held at an official rate far stronger than its black-market value. In 2024 the government let it float as part of an IMF-backed reform, and the birr fell sharply.
It is an example of how ending a managed rate can mean a big one-off drop.
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