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DW from Mekele - Desperate for Birr notes. Birr is very strong against the dollar in Mekele
Posted: 04 Mar 2022, 18:34
by temari
በትግራይ የባንክ አገልግሎት በመቋረጡ ነዋሪዎች ጥሬ ገንዘብ ለማግኘት ውድ ንብረቶቻቸውን በርካሽ ለመሸጥ ተገደዋል። ከክልሉ ውጪ በነጋዴዎች በኩል ገንዘብ ሲላክ ከመቶ ብር 35 ብር ይቆረጣል። በመቐለ በተለምዶ "ጥቁር" በሚባለው የጎንዮሽ ገበያ አንድ የአሜሪካ ዶላር ከሀገሪቱ መደበኛ የባንክ ምንዛሬ በታች በሆነ ዋጋ ከ35 እስከ 40 ብር ይመነዘራል
The official exchange rate is: 1 dollar = 51 Birr but in Mekele it is: 1 dollar = 35 to 40 Birr.
This shows how people are desperate and willing to do everything even to sell dollars cheap just to get Birr notes.
This situation of course is in no way sustainable. I suspect printing its own currency also is not an option for Tigray as this will require money printing facilities and imported materials which are lacking. Damn, having no banking notes is really a very hard problem for any society.
https://m.dw.com/am/የባንኮች-መዘጋት-በትግራይ-ያስ ... v-61016205

Re: DW from Mekele - Desperate for Birr notes. Birr is very strong against the dollar in Mekele
Posted: 04 Mar 2022, 19:09
by Za-Ilmaknun
temari wrote: ↑04 Mar 2022, 18:34
በትግራይ የባንክ አገልግሎት በመቋረጡ ነዋሪዎች ጥሬ ገንዘብ ለማግኘት ውድ ንብረቶቻቸውን በርካሽ ለመሸጥ ተገደዋል። ከክልሉ ውጪ በነጋዴዎች በኩል ገንዘብ ሲላክ ከመቶ ብር 35 ብር ይቆረጣል። በመቐለ በተለምዶ "ጥቁር" በሚባለው የጎንዮሽ ገበያ አንድ የአሜሪካ ዶላር ከሀገሪቱ መደበኛ የባንክ ምንዛሬ በታች በሆነ ዋጋ ከ35 እስከ 40 ብር ይመነዘራል
The official exchange rate is: 1 dollar = 51 Birr but in Mekele it is: 1 dollar = 35 to 40 Birr.
This shows how people are desperate and willing to do everything even to sell dollars cheap just to get Birr notes.
This situation of course is in no way sustainable. I suspect printing its own currency also is not an option for Tigray as this will require money printing facilities and imported materials which are lacking. Damn, having no banking notes is really a very hard problem for any society.
https://m.dw.com/am/የባንኮች-መዘጋት-በትግራይ-ያስ ... v-61016205
The currency isn't circulating end to end. They have to use the money to buy stuff from other regions, but they don't have anything to sell for those other regions to earn back the currencies. They are basically using what they accumulated over the years plus the loot, and most of the aid food is going directly to feed the overly stretched militia. Even if they print their own notes, it won't be a solution since there are no enough goods and services to be exchanged in the market.

The curse of greed and tribalism!
Re: DW from Mekele - Desperate for Birr notes. Birr is very strong against the dollar in Mekele
Posted: 04 Mar 2022, 19:59
by Fiyameta
Re: DW from Mekele - Desperate for Birr notes. Birr is very strong against the dollar in Mekele
Posted: 05 Mar 2022, 02:07
by sesame
To exchange a dollar for 35 birr when the official rate if 50 is a crime that only an Agame is capable of. In the end that is what will happen. Thievery is an Agame culture and here we have the perfect example of Agames ripping off other Agames.