Mereja.Forum

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HAS GONE UP BY 3 BIRR IN LESS THAN A WEEK



$1 USD = 15 Eritrean Nakfa

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"In 2024, Ethiopia's foreign exchange reserves were barely sufficient to cover one month of imports, according to UNDP data. Traditional “rules of thumb” that have been used to guide reserve adequacy suggest that countries should hold reserves covering the equivalent of 3 months worth of imports." (The IMF)
https://www.imf.org/en/News/Articles/20 ... pol040711b

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The black market rate is the accurate measure because most transactions are conducted that way. For example, all Diaspora remittances use the black-market exchange rate. Currently, 1 US is 157 birr.

https://www.ethioblackmarket.com/

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Why is the value of Birr depreciating every day? We Eritreans would like to help solving the problem.

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It was 133.41 Birr yesterday.

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