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Need to know waht is the local currency in Ethiopia? The currency used in Ethiopia is called Birr.

The Ethiopian Birr is issued and managed by the National Bank of Ethiopia. To find out the current currency exchange rates for Birr to other major currencies of the world, click on foreign currency rates.

Ethiopian Currency Information
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The currency used in Ethiopia is called as the Birr. This currency is denoted with the currency sign Br and the ISO 4217 Code for the Ethiopian Birr is ETB. The Birr, is the official currency of the Ethiopia . It is divided into 100 smaller units called santim.

The constitution of Ethiopia provides that the Ethiopia government shall have the power to print the Ethiopian Birr and santim coins to be used as a legal tender in Ethiopia. The Ethiopian Birr bank notes and Santim coins are both designated as "legal tender" in payment of debts.

The Ethiopian Birr bill uses the decimal system, consisting of 100 equal units.

The symbol Br, usually written before the numerical amount, is used for the Ethiopian Birr.

Currently printed bank notes denominations are 1, 5, 10, 50, 100 birr and the coins are minted in the denominations of 1, 5, 10, 25, 50 santim; 1 Birr .

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The Effect of Balance of Trade and Investment on Ethiopian Birr
Financial analysts regularly cite the balance of trade and investment in Ethiopia as the most important influence on the value of the Birr. The difference between what the Ethiopia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Birr exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Birr exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Ethiopian Birr.

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