July 26
Ethiopia has recently started using a market-led foreign exchange rate system, leading to significant changes in the exchange rates. Here’s the latest update on foreign currency rates from different banks:
| Bank | Buying Rate (Birr) | Selling Rate (Birr) |
|---|---|---|
| Awash Bank | 90.0029 | 94.5011 |
| Dashen Bank | 90.7899 | 98.0531 |
| Oromia Bank | 90.6055 | 94.6827 |
| Commercial Bank of Ethiopia | 83.9413 | 85.6201 |
The exchange rate has increased significantly, from 25 to 32 Birr per dollar, following the new system. The rates differ slightly between banks, ranging from a few cents to 7 Birr.