Ethopia: Authorities report significant narrowing of official-parallel market gap a month after reform; launch new remittance campaign to spur foreign market convergence

Addis Abeba – A month following Ethiopia’s transition from a fixed exchange rate system to a market-based regime, authorities reported a substantial narrowing of the disparity between the official and parallel foreign exchange markets.

At the launch of the “DEBO” remittance campaign held on 05 September, 2024, Mamo Mihretu, the governor of the National Bank of Ethiopia (NBE), disclosed that the premium between the official and black markets had decreased from…