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International Business Times
International Business Times
Science
AFP News

Ethiopia Currency Slides As Central Bank Eases Forex Curbs

The value of the Ethiopian birr fell on Monday (Credit: AFP)

Ethiopia's central bank announced on Monday that it was easing curbs on its foreign exchange regime, a move which saw the value of the local currency slide by about 30 percent.

The major reform was unveiled as the deeply indebted country awaits a multi-billion dollar deal on crucial funding from the International Monetary Fund after long and fraught negotiations.

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