Ethiopia's Forex Market Remains Quiet Amid Economic Reforms

Ethiopia's foreign exchange market remains quiet following the implementation of the July 2024 IMF programme, which introduced a market-determined exchange rate. While the policy aims to alleviate severe currency shortages, current market indicators have not yet clarified the true availability of US dollars. Experts are closely monitoring transaction volumes and fulfilment times to gauge the effectiveness of these reforms. The current stability is being scrutinized to determine if it reflects genuine dollar accessibility or merely an adjustment period for quotes. This development is critical for businesses relying on foreign currency for imports.