Ethiopia's central bank eases foreign exchange curbs, leading to a 30% slide in local currency value.

Ethiopia's central bank announced the easing of foreign exchange curbs, leading to a 30% slide in the local currency's value. The major reform comes as the country awaits a crucial funding deal from the International Monetary Fund. The National Bank of Ethiopia introduced significant new policy changes, shifting to a market-based exchange regime allowing banks to buy and sell foreign currencies at freely negotiated rates.