Okay i might sound dumb but someone explain this to me. Alright so when people say dollar is getting expensive, like dollar, on the black market 70 birr geba mnamn sibal, like who's behind that? Is there someone just waking up and deciding that like why does it keep going up and also why can't we just collectively Decide that a dollar is 5 birr and get on with it. Wouldn't it make our money's worth increase. Explain this to me like I'm 10 ✨
Sep 22, 2020When there is change in supply or demand the price changes. Ahun 70 yegebaw bank wist birr masgebat yemayflegu sewoch bebzat eyegezu silehone new and for some reason enezi sewoch melsew dollar meshet kejemru there is a lot of dollar in the market silezi price decreaes( abiy simeta endkensew malet new). Ena if someone sets the price artifically like 1$=5birr imported good will be extremly cheap and local industries cant match those prices, exports will be expensive... which in turn will create a foreign exhange deficit and more importantly break the economy. In short the market should set price Hope i made it clear and not too long and boring😊
Sep 22, 2020Jokes aside tho, To make it simpler. If there is high demand. Those selling the dollars will increase there price. Meanwhile The government hav decided the rate in the banks. And expects you to abide on that. If you involved on the fishy things, you better not get cought.
Sep 22, 2020Yeah, That guy is me actually.
Sep 22, 2020There are multiple answers in this question. Yes Dollars Value in the Black Market has increased due to the change in birr note. This is because peoples that used to allocate a great deal of corruption money tend to keep the money in cash thus making banks Cashless and the economy bankrupt. When the new Birr comes their old stolen money wont have a value in a month(>100,000) if they go to the bank and create account they will be on the lookout INSA and the Anti corruption commitee will check if the money is actually real. thus they need to change it to a cash that wont degrade or change. The US dollar has been like this like forever... Plus there is an advantage of making the dollar 5 birr but the disadvantage is huge. Lets say I am an investor and want to invest and prosper. I want a country with cheap labor, good educational experienced people, and a currency that is far lower than the dollar in value. But Not just that... If the government decides that next day 1 dollar=5 birr, then every export items are useless. What's the use of exporting a 1M $ and get a return of 5M birr? Using the 1 Million dollar, you can buy a house, a car, a lot of things... Wiz 5 Million😏 birr. If currency depricates it should be gradual so that every other thing in the country will decrease its value in time. Or else, tenant be 500,000 yegezahut mekina be ketayu import 25,000 bigeba😳
Sep 22, 2020Plus I forgot, dont give your money if you have any dollars to the Black market peoples. They are the ones that fund the anti-peace corps. We dry their funding together, we will make Ethiopia peaceful.
Sep 22, 2020Michael scott 😂😂
Sep 22, 2020ikr😂
Sep 22, 2020So first off the reason for the depreciation of the birr is because of inflation (increase in the amount of money circulating in the economy which in turn increases the general prices of goods and services in the market) so when this happens the country/government can't set prices because of the law of demand and supply (since its a free market economy), our reserves dont have much foreign currency in this case dollar, and when we do we usually spend it on imports so our net export (export - import) is negative which creates another deficit on our reserves. So as an individual if you want to acquire dollar the domestic banks can't afford to give you the amount you need (because of the said deficit in the reserves), so the black market exploits this problem by buying dollar from people at higher rates and selling them at an even higher one but you can get as much dollar as you want from them. I touched a lot of points here with out going in depth because it would take a while to explain the whole thing, so i hope this helps explain some of it.
Sep 22, 2020When I was 10 I used to ask people to give me their phone to play games!!😂 And ur asking such questions... MashaAllah ur really curious, keep it up. Our country needs a child like u😊
Sep 22, 2020demand and supply first national bank yehone yakl blo fix yaregewal like 35 keza trade yederegal bzu sw usd slemifeleg eyetewedede yemetal black market demo mn meselsh banks dollar aysetum ahun ene wechi ager mehed befeleg bank 150dollar nw misetegne keza ene 150 aybekam beye kasebku blackmarket hedalwe then i buy dollar from them wed nw gn mnm aynet lela choice slele gezalwe bcha demand and supply nw yehone sw tenesto 100 yihun eyale mnamn adelem.
Sep 22, 2020its supply and demand you can check the black market rate live on 👉 ethioblackmarket.com, youre welcome
Nov 16, 2022Its simple. It means we are importing commodities rather than exporting them. So our currency ( birr) will be chip internationally thus increasing the value of the dollar. "Why cant we collectively decide that a dollar i 5 birr" lalkew demo it will cause inflation. Lemisale 1 kilo shinkurt ke 22 birr 35 birr sichemir its called inflation. If the banks just decide what they want inflation will increase keza diro 3 birr sigeza yeneberew dabo 100 birr ligeba yichilal.
Sep 22, 2020The decision is made by millions of people as they buy and sell if peoples buy it will increase and if they sell it decreases
Sep 22, 2020It is possible to make 1 etb = 100 dollars, but they will not come here if it is expensive, but if we have something expensive like oil, fuel, gold mananm we can raise our currency and become rich real quick
Sep 22, 2020I dont think you should use telegram if u r 10 in thr first place
Sep 22, 2020