Safaricom Ethiopia to Launch Device Financing Service
In a bid to bridge challenges of affordable phone access, Safaricom Ethiopia is set to roll out a device financing program within the next few months.
In a bid to bridge challenges of affordable phone access, Safaricom Ethiopia is set to roll out a device financing program within the next few months.
Ethiopia Will Build Biggest Airport in Africa, says Prime Minister Abiy
Ethiopia has finalized a study to build Africa’s largest airport capable of handling nearly 130 million passengers annually, according to Prime Minister Abiy Ahmed (PhD).
Ethiopia has finalized a study to build Africa’s largest airport capable of handling nearly 130 million passengers annually, according to Prime Minister Abiy Ahmed (PhD).
With the recent dip to 138 birr and a rebound back to 139 birr, the market seems to have found a temporary balance. But as we know, things can change quickly. Where do you see the parallel market rate in two weeks? Do you think it will continue to hold steady, or are we likely to see it go up or down again?
How long do you think this stability will last before we see any major movement? And when that shift comes, which direction do you believe it will take?
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The USD/ETB parallel market rate has been flirting with the 140 Br mark over the past few days, repeatedly testing this level but pulling back each time. Today, the rate sits at 139.62 Br, just under this key resistance point, with a minor 0.02% increase.
Key Observations:
Repeated Resistance at 140 Br: The market has approached or slightly breached 140 Br twice in recent sessions, only to pull back, suggesting a strong resistance level. Breaking past this could signal new upward momentum.
Current Stability Around 139-140 Br: This range indicates a period of consolidation, where buyers and sellers are closely balanced. The market may be waiting for new signals before making its next move.
What’s Next?
The market’s repeated tests of 140 Br without breaking it decisively raises the question of whether it’s building up pressure for a breakout. If the rate pushes past this resistance level, we might see a quick move upwards as demand surges. However, if the resistance holds, we could see the rate consolidate or even retreat slightly as it searches for a new level of support.
What’s your take? Will the market break through 140 Br, or are we in for another pullback? Let us know your thoughts and predictions!
Key Observations:
Repeated Resistance at 140 Br: The market has approached or slightly breached 140 Br twice in recent sessions, only to pull back, suggesting a strong resistance level. Breaking past this could signal new upward momentum.
Current Stability Around 139-140 Br: This range indicates a period of consolidation, where buyers and sellers are closely balanced. The market may be waiting for new signals before making its next move.
What’s Next?
The market’s repeated tests of 140 Br without breaking it decisively raises the question of whether it’s building up pressure for a breakout. If the rate pushes past this resistance level, we might see a quick move upwards as demand surges. However, if the resistance holds, we could see the rate consolidate or even retreat slightly as it searches for a new level of support.
What’s your take? Will the market break through 140 Br, or are we in for another pullback? Let us know your thoughts and predictions!