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Exchange rates for the Deutsche Mark in Ethiopia * / DEM 1 = ETB ... (buying) / up to the end of 1998

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
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  4. DEM Deutsche Mark (historical)
  5. ETB Birr (Ethiopia)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.M.ETB.DEM.CA.AA.A01
Unit ETB
Dimension one
Timespan from 1976-09 to 1998-12
Last update 20.09.2023 02:43:49 PM
   
General * Commercial bank rates until April 1993; auction rates thereafter. A currency conversion took place with effect from 21 September 1976. The former currency, the Ethiopian dollar was replaced by the birr (ETB) at the rate of 1:1. A multiple exchange rate system was established on 1 May 1993 with the introduction of foreign exchange auctions. Exchange rate application from 1 May 1993 to 24 July 1995: Official exchange rate (see commentaries on value, BBEX3.M.ETB.DEM.CA.AC.A01): For payments for the import of petroleum products, fertilisers and pharmaceutical products; for contribution payments to international organisations and for servicing government debt. Auction exchange rate: For all other foreign exchange transactions. The multiple exchange rate system was unified on 25 July 1995. Listed against the euro as of January 1999, see BBEX3:M:ETB:EUR:CA:AA:A01.
Methodology The exchange rates specified for the period from September 1976 to October 1985 were converted using the direct quotation method. We only have data on exchange rates for the Deutsche Mark in Ethiopia up until August 1998. From September to December 1998, the quoted figures are comparable rates calculated on the basis of the exchange rates for the US dollar in Ethiopia in conjunction with the exchange rates (middle) on the Frankfurt exchange for the US dollar.
Source Since 1978: National Bank of Ethiopia, Addis Ababa. Up until December 1977: Commercial Bank of Ethiopia, Addis Ababa.
   
Comment on 1992-10 On 1 October 1992, the birr was devalued. We recorded the following exchange rates (buying/selling rate): 30 September 1992. DEM 1 = ETB 1.4410 / 1.4420 1 October 1992: DEM 1 = ETB 3.5398 / 3.5423 Calculated devaluation: 59.3%.
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