Surging Gold Exports Boost Ethiopia’s Faith in Stronger Currency

Ethiopia’s currency looks set to gain in coming months, supported by surging gold exports that have surpassed coffee shipments for the first time, the nation’s central bank governor said.

That would reverse a losing streak, which began when the government liberalized the foreign-exchange market and allowed the birr to weaken sharply. The currency has lost two-thirds of its value since it was floated on July 29.