News & Analysis

Top-Performing Banks:

• USD: Highest BUY: Oromia (156.23 ETB), Lowest SELL: COOP (155.19 ETB)
• EUR: Highest BUY: Oromia (184.18 ETB), Lowest SELL: Berhan (183.94 ETB)
• GBP: Highest BUY: Oromia (210.71 ETB), Lowest SELL: CBE (207.64 ETB)
• CAD: Highest BUY: Nib (112.29 ETB), Lowest SELL: Buna (103.95 ETB)
• CNY: Highest BUY: Wegagen (22.22 ETB), Lowest SELL: COOP (20.42 ETB)

Performance Insights: The top-performing banks in the current market are Oromia for all currencies, indicating strong competitiveness. Berhan and CBE are the only banks to appear in multiple currencies, but with different rates, suggesting a mix of performance across different markets.

Impact on Market Dynamics: Oromia's dominance in the market suggests that it is leading the competition. Berhan and CBE's presence in multiple currencies indicates that they are also performing well, but not to the same extent as Oromia.

Recommendations: For buying/selling USD, traders should use Oromia (highest BUY rate) and COOP (lowest SELL rate). For EUR, traders should use Oromia (highest BUY rate) and Berhan (lowest SELL rate). For GBP, traders should use Oromia (highest BUY rate) and CBE (lowest SELL rate). For CAD, traders should use Nib (highest BUY rate) and Buna (lowest SELL rate). For CNY, traders should use Wegagen (highest BUY rate) and COOP (lowest SELL rate).

Implications: If trends continue, Oromia's dominance in the market may lead to increased competition and potentially lower rates. Berhan and CBE's presence in multiple currencies may indicate a shift towards more diversified market participation.

Top-Performing Banks:

• USD: Highest BUY: Oromia (156.22 ETB), Lowest SELL: COOP (155.18 ETB)
• EUR: Highest BUY: Oromia (184.17 ETB), Lowest SELL: Berhan (183.94 ETB)
• GBP: Highest BUY: Oromia (210.70 ETB), Lowest SELL: CBE (207.64 ETB)
• CAD: Highest BUY: Nib (112.29 ETB), Lowest SELL: Buna (103.95 ETB)
• CNY: Highest BUY: Wegagen (22.19 ETB), Lowest SELL: COOP (20.42 ETB)

Performance Insights: The top-performing banks for each currency are consistently Oromia for USD and EUR, Oromia and CBE for GBP, Nib for CAD, and Wegagen for CNY, with COOP being the lowest SELL for USD and CNY. This indicates that Oromia and Wegagen are strong performers in the market.

Impact on Market Dynamics: Oromia is leading the market for USD and EUR, and Wegagen is leading for CNY. This suggests that these banks are providing favorable exchange rates for traders. Berhan is the second-best performer for EUR, indicating a strong presence in the EUR market.

Recommendations: For USD, traders can use Oromia for buying and COOP for selling. For EUR, traders can use Oromia for buying and Berhan for selling. For GBP, traders can use Oromia for buying and CBE for selling. For CAD, traders can use Nib for buying and Buna for selling. For CNY, traders can use Wegagen for buying and COOP for selling.

Implications: If trends continue, traders can expect Oromia and Wegagen to remain top-performing banks, leading the market for USD, EUR, and CNY. COOP and Berhan may also remain strong performers for USD and EUR, respectively.

Top-Performing Banks:

• USD: Highest BUY: Oromia (156.22 ETB), Lowest SELL: COOP (155.18 ETB)
• EUR: Highest BUY: Oromia (184.17 ETB), Lowest SELL: Siinqee (184.23 ETB)
• GBP: Highest BUY: Oromia (210.70 ETB), Lowest SELL: CBE (207.64 ETB)
• CAD: Highest BUY: Nib (112.29 ETB), Lowest SELL: Buna (103.95 ETB)
• CNY: Highest BUY: Wegagen (22.19 ETB), Lowest SELL: COOP (20.42 ETB)

Performance Insights: Oromia is consistently the top-performing bank for USD, EUR, and GBP, indicating its strong market presence and competitive exchange rates. COOP, Wegagen, and CBE are performing well across multiple currencies, showcasing their adaptability and competitiveness.

Impact on Market Dynamics: Oromia's dominance in the top-performing banks list suggests it is a market leader, influencing exchange rates and market dynamics. COOP, Wegagen, and CBE are also significant players, but their performance varies across currencies.

Recommendations: For USD, traders can use Oromia for buying and COOP for selling. For EUR, use Oromia for buying and Siinqee for selling. For GBP, use Oromia for buying and CBE for selling. For CAD, use Nib for buying and Buna for selling. For CNY, use Wegagen for buying and COOP for selling.

Implications: If trends continue, Oromia's dominance in the top-performing banks list may persist, making it a preferred choice for traders. COOP, Wegagen, and CBE may need to adapt their strategies to stay competitive.

Top-Performing Banks:

1. USD: Highest BUY: Oromia (156.22 ETB), Lowest SELL: COOP (155.18 ETB)
2. EUR: Highest BUY: Oromia (184.85 ETB), Lowest SELL: Siinqee (184.23 ETB)
3. GBP: Highest BUY: Oromia (211.97 ETB), Lowest SELL: CBE (207.64 ETB)
4. CAD: Highest BUY: Nib (112.29 ETB), Lowest SELL: Buna (103.95 ETB)
5. CNY: Highest BUY: Wegagen (22.19 ETB), Lowest SELL: COOP (20.42 ETB)

Performance Insights: The top-performing bank for each currency is Oromia, indicating strong market dominance. The other banks are closely following, with some banks having better performance in specific currencies. For example, Siinqee outperforms Oromia in EUR.

Impact on Market Dynamics: Oromia's dominance suggests that they are leading the market, with other banks closely following. This could indicate that Oromia is setting the standard for exchange rates, and other banks are adapting to their rates.

Recommendations: Based on the "CURRENT (latest)" section, traders can use the following banks for buying/selling each currency:

• USD: Oromia for buying, COOP for selling
• EUR: Oromia for buying, Siinqee for selling
• GBP: Oromia for buying, CBE for selling
• CAD: Nib for buying, Buna for selling
• CNY: Wegagen for buying, COOP for selling

Implications: If trends continue, Oromia's dominance may lead to increased market stability and reduced volatility. However, other banks may continue to adapt and challenge Oromia's market share, potentially leading to changes in market dynamics.

Top-Performing Banks:

• USD: Highest BUY: Oromia (156.22 ETB), Lowest SELL: COOP (155.18 ETB)
• EUR: Highest BUY: Oromia (184.85 ETB), Lowest SELL: Siinqee (184.23 ETB)
• GBP: Highest BUY: Oromia (211.97 ETB), Lowest SELL: CBE (207.64 ETB)
• CAD: Highest BUY: Nib (112.29 ETB), Lowest SELL: Buna (103.95 ETB)
• CNY: Highest BUY: Wegagen (22.19 ETB), Lowest SELL: COOP (20.42 ETB)

Performance Insights: The top-performing banks for buying and selling each currency are consistently Oromia for USD, EUR, and GBP, and Wegagen for CNY. COOP and Siinqee are the top performers for selling USD and EUR, respectively. Nib and Buna are the top performers for buying CAD.

Impact on Market Dynamics: The market dynamics are influenced by the top-performing banks, with Oromia and Wegagen dominating the highest buying rates and COOP and Siinqee dominating the lowest selling rates. This indicates that these banks have the most competitive rates, and traders may prefer to use them for their transactions.

Recommendations: For buying/selling each currency, traders should use the following banks:

• USD: Oromia (highest BUY), COOP (lowest SELL)
• EUR: Oromia (highest BUY), Siinqee (lowest SELL)
• GBP: Oromia (highest BUY), CBE (lowest SELL)
• CAD: Nib (highest BUY), Buna (lowest SELL)
• CNY: Wegagen (highest BUY), COOP (lowest SELL)

Implications: If trends continue, traders may see more competition among these top-performing banks, leading to more stable and competitive exchange rates. However, market fluctuations can occur, and traders should remain vigilant and adapt to changing market conditions.

Market Overview: The Ethiopian forex market has seen significant changes in the recent periods.

• The daily rate changes show a steady increase in buying rates (+0.01 ETB) and selling rates (+10.35 ETB) for USD, and similarly for EUR (+0.01 ETB) and GBP (+0.01 ETB).
• The weekly and monthly rate changes confirm these trends, with USD buying rates increasing by 6.23 ETB and selling rates by 35.91 ETB across all periods.

Impact on Traders:

• Rising buying rates indicate a relatively stable or slightly weakening Ethiopian Birr, making it a good time for importers to sell FX to banks.
• The steady increase in selling rates suggests that banks are actively buying from traders, which could lead to higher prices for importers.
• The constant rise in buying rates and selling rates across different periods indicates a generally favorable market for traders.

Recommendations:

• For importers, it's a good time to sell FX to banks, especially for USD, EUR, and GBP, given the rising buying rates.
• For exporters, it's recommended to buy back FX from banks, taking advantage of the steady increase in selling rates.

Strategic Insights:

• Banks appear to be more aggressive in buying FX from traders, with steadily increasing buying rates across different periods.
• The consistent rise in selling rates suggests that banks are actively participating in the market, potentially influencing market dynamics.

Market Overview: The Ethiopian forex market has experienced significant changes in the past month. Key observations include:

• The Ethiopian Birr has strengthened against the USD, CAD, and CNY, with buying rates increasing by +6.22 ETB, +5.34 ETB, and +1.13 ETB, respectively.
• The EUR and GBP have also strengthened, with buying rates increasing by +10.83 ETB and +12.79 ETB, respectively.
• The selling rates have increased for most currencies, with the largest increase observed for the USD, CAD, and CNY, at +35.90 ETB, +25.57 ETB, and +3.69 ETB, respectively.

Impact on Traders: These changes suggest that traders should be cautious when dealing with the Ethiopian forex market. Importers and exporters may face higher selling rates, which could reduce their profits. On the other hand, the increasing buying rates may provide opportunities for traders to buy back the foreign currencies at lower rates.

Recommendations: Based on the current market trends, the following recommendations can be made:

• Importers: Buy foreign currencies at the current high selling rates, as the rates are likely to decrease in the future.
• Exporters: Sell foreign currencies at the current high buying rates, as the rates are likely to decrease in the future.
• Traders: Be cautious when dealing with the Ethiopian forex market, as the rates can change rapidly. Consider hedging strategies to minimize losses.

Strategic Insights: The data suggests that banks are more aggressive in buying foreign currencies than selling them. The significant increases in buying rates for most currencies indicate that banks are willing to pay a premium to acquire foreign currencies. This can be beneficial for traders who want to buy foreign currencies at favorable rates. However, the increasing selling rates may indicate that banks are becoming more cautious in selling foreign currencies, which could lead to lower selling rates in the future.

Market Overview: The Ethiopian forex market has seen fluctuations in the past month. The buying and selling rates of major currencies have changed as follows:

• USD: Buying rate increased by +6.22 ETB, selling rate increased by +35.90 ETB
• EUR: Buying rate increased by +10.83 ETB, selling rate increased by +52.63 ETB
• GBP: Buying rate increased by +12.79 ETB, selling rate increased by +56.50 ETB
• CAD: Buying rate increased by +5.34 ETB, selling rate increased by +25.57 ETB
• CNY: Buying rate increased by +1.13 ETB, selling rate increased by +3.69 ETB

Impact on Traders: The changes in buying and selling rates indicate that traders should be cautious when trading forex in the Ethiopian market. The significant increases in selling rates suggest that the market is becoming more favorable for selling foreign currencies, which could be a good opportunity for traders to sell their foreign currency holdings to banks.

Recommendations: Based on the current market trends, the following recommendations can be made:

• Importers: It is recommended to buy foreign currencies (USD, EUR, GBP, CAD, CNY) at the current rates to take advantage of the increasing buying rates.
• Exporters: It is recommended to sell foreign currencies (USD, EUR, GBP, CAD, CNY) at the current rates, as the selling rates have increased significantly.

Strategic Insights: Banks in the Ethiopian forex market seem to be more aggressive in buying foreign currencies, as indicated by the increases in buying rates. On the other hand, banks are becoming more favorable in selling foreign currencies, as indicated by the increases in selling rates. This trend suggests that banks are seeking to accumulate foreign currency reserves, which could be beneficial for importers and exporters looking to buy or sell foreign currencies.

Market Overview: The Ethiopian forex market has seen significant changes in the buying and selling rates of major currencies.

• The USD buying rate increased by +0.60 ETB daily, +6.22 ETB weekly, and +6.22 ETB monthly.
• The EUR selling rate increased by +52.63 ETB daily, +52.63 ETB weekly, and +52.63 ETB monthly.
• The GBP buying rate increased by +0.44 ETB daily, +14.06 ETB weekly, and +14.06 ETB monthly.
• The GBP selling rate increased by +13.45 ETB daily, +56.50 ETB weekly, and +56.50 ETB monthly.
• The CAD buying and selling rates remained stable.
• The CNY buying rate remained stable, while the CNY selling rate increased by +2.69 ETB daily and +3.69 ETB monthly.

Impact on Traders: These changes suggest that importers and exporters should consider the following:

• For USD: With a daily buying rate of +0.60 ETB, it might be a good time to sell USD to banks.
• For EUR: With a daily selling rate of +52.63 ETB, it might be a good time to buy EUR from banks.
• For GBP: With a daily buying rate of +0.44 ETB and a weekly selling rate of +56.50 ETB, it might be a good time to sell GBP to banks.
• For CNY: With a daily selling rate of +2.69 ETB and a monthly selling rate of +3.69 ETB, it might be a good time to buy CNY from banks.

Recommendations: Based on the current rates, the following recommendations can be made:

• For USD: Buy USD from banks at a rate of +0.60 ETB daily.
• For EUR: Sell EUR to banks at a rate of +52.63 ETB daily.
• For GBP: Buy GBP from banks at a rate of +0.44 ETB daily and sell at a rate of +56.50 ETB weekly.
• For CNY: Buy CNY from banks at a rate of +2.69 ETB daily and +3.69 ETB monthly.

Strategic Insights: Banks seem to be more aggressive in buying EUR (daily rate +52.63 ETB) and selling GBP (weekly rate +56.50 ETB).

Market Overview: The Ethiopian forex market has seen a general increase in buying rates for the major currencies, with the exception of CAD. The highest buying rates are observed in EUR (+11.51 ETB monthly), followed by USD (+6.22 ETB monthly), and GBP (+14.06 ETB monthly). The selling rates for these currencies have also increased, with EUR (+52.63 ETB monthly), USD (+35.90 ETB monthly), and GBP (+56.50 ETB monthly) having the highest selling rates.

Impact on Traders: These changes indicate that the market is favorable for traders who are selling foreign currencies to Ethiopian banks. The increased buying rates and selling rates suggest that banks are willing to purchase more foreign currencies, making it a good time for traders to sell their foreign exchange holdings to banks.

Recommendations: Based on the current rates, the following recommendations can be made:

• For importers/exporters who need to buy foreign currencies, they should buy from the banks with the lowest buying rates, which are currently CAD (due to no change in buying rate) and EUR (+11.51 ETB weekly).
• For importers/exporters who need to sell foreign currencies, they should sell to the banks with the highest selling rates, which are currently EUR (+52.63 ETB monthly), USD (+35.90 ETB monthly), and GBP (+56.50 ETB monthly).

Strategic Insights: The data suggests that banks are more aggressive in selling foreign currencies than buying them. This is evident from the higher selling rates compared to buying rates for the major currencies. This trend indicates that banks are more willing to buy foreign currencies at the current rates than sell them, making it a good time for traders to buy foreign currencies from banks.