Tag Archives: Currency change

Ethiopia to Replace 100 Birr Notes with 200 as Inflation Soars

The uncontrollable inflation in the country has weakened the power of Ethiopian Birr greatly

The Reporter,

In the face of runaway inflation in the country’s economy, which surged to 39.2 % last month, the National Bank of Ethiopia has decided to abandon its long serving 100 Birr notes with 200 Birr notes as its highest legal tender.

The bank further disclosed that a currency with 100 birr note as its highest nomination could not sustain the volume of transaction currently performed together with the non-stop, record high inflation in the country. Continue reading Ethiopia to Replace 100 Birr Notes with 200 as Inflation Soars