Ethiopia's central bank devalues currency by 15 percent, hikes rates - News Summed Up

Ethiopia's central bank devalues currency by 15 percent, hikes rates


ADDIS ABABA, Oct 10 (Reuters) - Ethiopia’s central bank has devalued the Ethiopian birr by 15 percent to boost lagging exports, its deputy governor announced on Tuesday. The bank also raised its main interest rate to 7 percent from 5 percent, he said.


Source: Ethiopian News October 10, 2017 12:45 UTC



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