ETHIOPIA · MARKETS
Key Facts
—The record: The birr has weakened about 3.2% this year to near 162 per dollar, a record low, according to Bloomberg. It is the worst performer of the 23 African currencies Bloomberg tracks over twelve months.
—The bill so far: The central bank has spent roughly US$2.2 billion defending the currency this year, Bloomberg reports. That figure is the central bank’s own.
—Thursday’s sale: The National Bank of Ethiopia said it would sell a further US$500 million on Thursday 20 August, describing the sale as an unscheduled special auction.
