Ethiopian News, Current Affairs and Opinion Forum
DefendTheTruth
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Posts: 9763
Joined: 08 Mar 2014, 16:32

Ethiopia changed its money notes, now Birr is rising.

Post by DefendTheTruth » 23 Sep 2020, 14:55

I heard a certain banker last week talking about Birr possibly getting depreciated for a while because, according to the same person, those who possibly hid their money somewhere may try now to buy hard currency to get around of the challenge of the currency change in the country.

I watched for a week for the exchange rate on the internet and the trend is that Birr is rising, not declining, in contrast to what the banker said.

This is a good news for the country, but not for people like me who hid our foreign currencies under our beds to wait and show off how much we could be rich in Ethiopia and eat kitfo there with our Tej.

Ethoash
Senior Member+
Posts: 26144
Joined: 20 Apr 2013, 20:24

Re: Ethiopia changed its money notes, now Birr is rising.

Post by Ethoash » 24 Sep 2020, 07:39

DefendTheTruth wrote:
23 Sep 2020, 14:55
I heard a certain banker last week talking about Birr possibly getting depreciated for a while because, according to the same person, those who possibly hid their money somewhere may try now to buy hard currency to get around of the challenge of the currency change in the country.

I watched for a week for the exchange rate on the internet and the trend is that Birr is rising, not declining, in contrast to what the banker said.
DDT,

what u should look is the black market not the legal exchange rate..

DefendTheTruth
Member+
Posts: 9763
Joined: 08 Mar 2014, 16:32

Re: Ethiopia changed its money notes, now Birr is rising.

Post by DefendTheTruth » 24 Sep 2020, 15:15

Ethoash wrote:
24 Sep 2020, 07:39
DefendTheTruth wrote:
23 Sep 2020, 14:55
I heard a certain banker last week talking about Birr possibly getting depreciated for a while because, according to the same person, those who possibly hid their money somewhere may try now to buy hard currency to get around of the challenge of the currency change in the country.

I watched for a week for the exchange rate on the internet and the trend is that Birr is rising, not declining, in contrast to what the banker said.
DDT,

what u should look is the black market not the legal exchange rate..
The government has already cracked down on the black market and that too should have pushed the rate upward, because the demand will shift from black market to the open market.

Another point why your claim is wrong logically is that the black market and open market should have the same trend not run into the opposite direction to one another. In this case it is not sort of demand and supply, lol.


Black market rises means also then the open market rises, not the other way round, get that logic correct first, our "best economist".

Ethoash
Senior Member+
Posts: 26144
Joined: 20 Apr 2013, 20:24

Re: Ethiopia changed its money notes, now Birr is rising.

Post by Ethoash » 26 Sep 2020, 06:57

እንደፈረደብኝ ኢኮኖሚ ላስረዳ ለምድረ ደደቦች።

45.00 - 47.00
Today (08/24/2020) Dollar official exchange rate is 35.90 birr. Black market exchange rate is 45.00 - 47.00 birr.



now find out what was black market exchange rate before birr note change that will tell u if Ethiopian birr rising or failing ...


የደርግ ልጅ አብይ ልክ እንደአባቱ አንድ ዶላር ይዞ የተገኘ በሕይወቱ ይፍረድ ማለቲ ሲገርመኝ። ለካ ከሳያስ ነው ይህንን ምክር የተቀበለው እኔ ከደርግ መስሎኝ። የአስር ብር ለውጥ አለው ከባንክ ዶላር ለውጥ።

በወያኔ ዘመን ጥቁር ገበያው በአንድ ብር ብቻ ነበር ልዩነቱ ከባንክ። ብሔራዊ ትያትር ሄደህ ነበር በግልፅ የምትቀይረው። አብይ ራሱ ያቃል ጁቡቲ ውስጥ የጥቁር ገበያ ነጋዴዎች ባንክ በር ላይ ተቀምጠው ዶላር እንደሚቀይሩና ማታ የስበስቡትን በሳንቲም ደረጃ ለባንኩ እንደሚያስረክቡ ። ጥቁር ገበያ ግልፅ ስታረገው ዋጋው ይወርዳል ስታግደው ዎጋው ይወጣል እንግዲህ ይህቺ ችጋራም አገር የማትችለው ችግር ስለሌለ ይህንንም ታልፈዋልችና ምንም አት ስጋ እኔም አልስጋ ደህና ስንብት

ይሳያስ ገንዘብ የቀየረ ግዜ አንድ ናቅፋ በባንክ ሃያ አምስት ሆኖ በጥቁር ከገበያ አምሳ ብር ይሽጥ ነበር። ግን ይሳያስ አንድ ዶላር ተይዞ የተገኙ አጋሜ እኔን አያርገኝ ስላለ ፈረንጆቹም ፈርተው ከባንክ ነው የሚቀይሩት ይህንን ነው አብቾ ለማምጣት የሞከረው ግን የሚሳካለት አይመስለኝም ።

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