With the rising demand for foreign currency, the exchange rate gap between the official and black markets went up to 48 percent in some areas of Addis Ababa.Ī week before, the difference between the official and the black market was about 28%.Īccording to sources, Addis Ababa, Adama, and Hawassa are among the cities where exchange rates for hard currencies, including Euro, showed an unprecedented increase during that period. 'Due to the increased demand for currencies this week, the dollar exchange rate at the parallel market skyrocketed,' he added. He sipped his coffee and responded, “ I can buy a dollar for 70 birrs now, but don’t expect this price after tomorrow, even after hours.” We asked Yosef the exact amount he can pay for a dollar during our meeting in a small coffee shop in Addis Ababa, on Wednesday, August 5, 2021, around 4:00 PM. The birr was trading on the parallel market around 28 to the dollar, close to parity with the official rate and 25%. Three years ago, when the homegrown economic reform agenda was announced, the gap between the official and black market exchange rates for birr was narrow. “As the business is so sensitive, we are closely following new developments in the country daily including, new directives from the national bank, the political situation, the trade, and even the geopolitics,” he said. “Over the past years everything has been changing so fast, exchange rates are rapidly fluctuating due to the political uncertainty in the country,” Yosef told Addis Zeybe.

Q: Is the Dollar going up or down against the Ethiopian Birr?Ī: Today's exchange rate (54.6514) is higher compared to yesterday's rate (54.6022).Ī: 50 Dollars buys 2732.57 Ethiopian Birr at interbank exchange rates.Yosef Taye, whose name has been changed for security reasons, has been involved in Addis Ababa's parallel foreign currency market for about a decade. Q: What is the Dollar worth against the Ethiopian Birr?Ī: One Dollar is worth 54.6514 Ethiopian Birr today

To convert Dollars to Ethiopian Birr or determine the Dollar Ethiopian Birr exchange rate simply use the currency converter on the right of this page, which offers fast live exchange rate conversions today! For full history please visit USD/ETB exchange rate history page

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