The National Bank of Ethiopia (NBE) says it has lost 407.1 billion birr ($2.61 billion) as a result of IMF-backed foreign exchange reforms that shifted the country from a fixed to a market-based exchange rate regime in July 2024.
The regulator said foreign exchange losses from the revaluation of its foreign currency assets and liabilities rose to 445.23 billion birr ($2.85 billion) in the year ended June 2025, from 38.13 billion birr ($244.63 million) a year earlier, an increase of 407.1 billion birr ($2.61 billion).
