Ruble Surges Against Greenback, Ethiopian Birr Exchange Rate Gap Widens; Kiyo...
Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in the world of cryptocurrency. Rich Dad Poor Dad author Robert Kiyosaki says the “end is here” for fake money. This and more just below in the latest Bitcoin.com News Week in Review. While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback While the U.S. dollar has soared in value against a basket of worldwide....
Related News
The Ethiopian birr currency’s parallel exchange rate against the U.S. dollar recently dropped to a low of 92 birrs per dollar, a report has said. The report added that following this latest plunge, the gap between the birr’s official and parallel market exchange rates has widened to a record high. Resumption of Fighting Between Ethiopian Government Forces and Tigray Rebels Identified as the Cause The gap between the Ethiopian currency’s official and parallel market exchange rate against the greenback widened to a new record higher after the latter rate plunged 92....
Ethiopian-based group Project Mano is lobbying the government to mine, hold and link Bitcoin to the Ethiopian birr or other legal tenders. Twitter CEO and crypto proponent Jack Dorsey has highlighted the efforts of a lobby group pushing the Ethiopian government to embrace Bitcoin (BTC).In a Wednesday tweet, Dorsey shared a Twitter thread from Project Mano, an Ethiopian-based lobbying group that is trying to get the government to consider mining and storing Bitcoin. #bitcoin https://t.co/jQSnJr5bv8— jack (@jack) June 15, 2021 Dorsey appears to have given the project some helpful....
According to the National Bank of Ethiopia’s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new restrictions. Individuals may not hold local currency whose value exceeds $57.00 or 3,000 birr. The directive also sets conditions and circumstances under which Ethiopian residents and non-residents may possess and use foreign currency. Converting All Foreign Currency at Authorized Forex Bureaus The Ethiopian central bank recently issued a directive which sets a limit on the amount of the birr....
The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in “illegal” cryptocurrency transactions, a report has said. The report adds that the central bank still does not recognize cryptocurrencies like bitcoin as a payment method. In its report, the state-affiliated media outlet Fanabc....
Charles Hoskinson gave new details on a very expected announcement in the Cardano community. The CEO of IOG uploaded a video on his YouTube channel and talked about the partnership with the Ethiopian government. The partners intend to “overhaul” the country’s education system. The Ethiopian Embassy in the United Kingdom and its Ambassador Teferi Melesse […]