Job offersmore »
- Department Chair and Professor of Human Ecology - Davis (CA) USA
- Factory Manager Assistant - Huizhou, China
- Internal Salesperson - Netherlands
- Crop Manager - Northern France
- Farm General Manager - Egypt
- Grower (cucumbers) - Australia
- Projectleider Export - Maasdijk, Nederland
- Sales representative - Eastern PA, DE, MD, VA & WV, USA
- Sales representative - Michigan, USA
- Assistant Grower - Delta (BC), Canada
Top 5 - yesterday
Top 5 - last week
Top 5 - last month
- Klasmann-Deilmann takes over international distribution of Growcoon
- US: Patent for cooling method of electrical components in a geothermal well
- Netherlands: First well of geothermal doublet for ECW Andijk
- Soil to hydroponics: 50%-100%+ increase in tomato and pepper production
- Pythium root rot on hydroponically grown basil and spinach
Exchange ratesmore »
Ethiopia's central bank devalues currency by 15 percent
Ethiopia’s central bank devalued the Ethiopian birr by 15 percent on Tuesday, its first such move in seven years to boost lagging exports.
Reuters reports that the birr was quoted by the National Bank of Ethiopia at a weighted average of 23.4177 against the dollar on Monday, compared to what will be 26.9215.
“The devaluation was made to prop up exports, which have stagnated the last five years owing to the birr’s strong value against major currencies,” Yohannes Ayalew, the bank’s vice governor, told a news conference in the capital Addis Ababa.
The International Monetary Fund (IMF) and the World Bank, have both repeatedly urged Ethiopia to consider devaluing its currency to boost exports as they are mostly unprocessed products and need to stay competitive on price.
Ethiopia's total export revenue has been falling short of targets for the last few years owing to weaker commodity prices. Addis Ababa earned $2.9 billion in the 2017-2018 fiscal year, versus a target of $4 billion.
Publication date: 10/12/2017
Other news in this sector: