From ETB 57 to ETB 160
The Devaluation That Unlocked External Financing and Reshaped Ethiopia's Investment Environment
Executive summary
What this brief covers.
The July 2024 foreign-exchange reform moved the birr from a fixed rate near ETB 57 per dollar to approximately ETB 160 by May 2026. The adjustment unlocked multilateral financing, improved formal-channel competitiveness, and supported reserves and exports, but a parallel-market premium, currency exposure, and shallow hedging markets remain central operating risks.
National Bank of Ethiopia; IMF; World Bank; UNDP; Capital Market Ethiopia
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Suggested citation
Tamene, Edosa. “From ETB 57 to ETB 160.” InfoPlate Media and Consulting, June 16, 2026.
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