Anyone have any idea what this means?
I get paid in birr- but I have some $ and some £ as emergency cash.
Should I be getting all my pals to visit now as there cash will go further?
Or will all the prices be going up very soon?
Cheers
P
People abroad buying stuff exported from where you are get it cheaper.
Everything you buy that's imported from somewhere else gets more expensive.
It means that your birrs are now worth 17% less than they used to be in terms of $s or £s. Imports to Ethiopia will be getting more expensive pretty damned quick. Go out and buy any foreign goods you need now!
I'm presuming you live in Ethiopia and not Slough...
What headfirst said. Your wages are now worth less.
Cheers chaps- pretty much what I was thinking.
Headfirst- Yep, I'm in sunny Ethiopia! I thought the same about imported foreign goods. Unfortunately that means almost everything here. Except coffee, chat and injera of course.
Tron- my wages are not worth a lot anyway! Don't become a volunteer for the monetary gain.