Banks accused of manipulating foreign currency rates
The National Bank of Ethiopia (NBE) has emphasized the need for close monitoring of the foreign exchange market, as experts accuse banks of engaging in speculative foreign currency purchases, exacerbating the disparity between buying and selling rates.
In its latest statement, the NBE’s Monetary Policy Committee (MPC) noted that managing recent foreign exchange inflows requires careful attention and a measured approach to avoid unintended monetary policy easing resulting from associated liquidity injections.
Read More
Source: capitalethiopia
@Ethiopianbusinessdaily
The National Bank of Ethiopia (NBE) has emphasized the need for close monitoring of the foreign exchange market, as experts accuse banks of engaging in speculative foreign currency purchases, exacerbating the disparity between buying and selling rates.
In its latest statement, the NBE’s Monetary Policy Committee (MPC) noted that managing recent foreign exchange inflows requires careful attention and a measured approach to avoid unintended monetary policy easing resulting from associated liquidity injections.
Read More
Source: capitalethiopia
@Ethiopianbusinessdaily