October 10, 2017 / 12:45 PM / 12 days ago

Ethiopia's central bank devalues currency by 15 percent, hikes rates

ADDIS ABABA, Oct 10 (Reuters) - Ethiopia’s central bank has devalued the Ethiopian birr by 15 percent to boost lagging exports, its deputy governor announced on Tuesday.

The bank also raised its main interest rate to 7 percent from 5 percent, he said.

Reporting by Aaron Maasho; editing by John Stonestreet

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below