"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: What is 50 Saudi Riyal in Ethiopian Birr?Ī: 50 Saudi Riyal buys 728.48 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: Is the Saudi Riyal going up or down against the Ethiopian Birr?Ī: Today's exchange rate (14.5696) is lower compared to yesterday's rate (14.6512). Q: What is the Saudi Riyal worth against the Ethiopian Birr?Ī: One Saudi Riyal is worth 14.5696 Ethiopian Birr today To convert Saudi Riyal to Ethiopian Birr or determine the Saudi Riyal 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 SAR/ETB exchange rate history page
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