Yewef Gojo Episode 52 - Kana TV Drama

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It was said that the sale of one dollar at a discount of 4 birr to the birr in the National Bank’s foreign exchange auction yesterday will strengthen the purchasing power of the currency.

 

One dollar was sold at an average of 131.7 birr in the auction.

 

This is about 4 birr lower than the average price at which it was sold at the auction a month ago.

 

This will increase the purchasing power of the currency, said Ato Mered Fikre Yohannes, a finance and investment expert who spoke to Sheger on the matter.

 

He added that the National Bank’s statement that it will hold a dollar auction every two weeks will also have a positive effect on the purchasing power of the currency.

 

The number of banks participating in yesterday’s auction was 15 less than the previous auction, which shows that banks are short of cash, the banker noted.

 

Yared Endashaw

 

Category
Yewef Gojo
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