Ethiopian Birr

Ethiopian Birr The Ethiopian Birr is the currency of Ethiopia. It is divided into 100 cents and is subdivided into santim. The Birr is issued by the Ethiopian National Bank. The Ethiopian Birr was introduced in 1855, replacing the Maria Theresa thaler, and was pegged to the British Pound at a rate of 1 Birr = 1/2 Pound. The Birr was devalued in 1931 to a rate of 1 Birr = 1/16 Pound. The Birr was again devalued in 1940 to a rate of 1 Birr = 1/100 Pound. The Birr was revalued in 1945 to a rate of 1 Birr = 1/10 Pound. The Birr was pegged to the US Dollar at a rate of 1 Birr = 0.65 Dollar in 1994. The Birr was devalued to a rate of 1 Birr = 0.55 Dollar in 2001. The Birr was again devalued to a rate of 1 Birr = 0.40 Dollar in 2005. The Birr is currently pegged to the US Dollar at a rate of 1 Birr = 0.05 Dollar.