Ethiopia Dollar Sales Over $2 Billion as Parallel Market Rate Surges

Ethiopia’s latest special auction has pushed dollar sales this year above the $2 billion mark, as authorities step up efforts to support the birr and narrow the gap between official...

By Ray Ndlovu · Bloomberg Markets

Ethiopia’s latest special auction has pushed dollar sales this year above the $2 billion mark, as authorities step up efforts to support the birr and narrow the gap between official and parallel-market exchange rates.