The Bank of Russia has officially included the Ethiopian birr in its list of foreign exchange rates and will officially begin accepting and using it and other 11 currencies effective July 10, 2025, the bank said in a statement.
The move is part of a broader expansion that includes 11 other currencies, signaling Russia’s strategic pivot towards new economic partnerships with the countries.
The bank announced that it would begin publishing daily ruble exchange rates for a total of 12 new currencies.
Alongside the Ethiopian birr, these include the Bangladeshi taka, Bahraini dinar, Bolivian boliviano, Cuban peso, Algerian dinar, Iranian rial, Myanmar kyat, Mongolian tugrik, Nigerian naira, Omani rial, and Saudi riyal.
This expansion directly reflects Moscow’s ongoing efforts to adapt to Western sanctions, which have reshaped its global economic relationships.
According to the Bank of Russia, the updated currency list is designed to accurately reflect shifts in international settlement structures and foreign trade flows.
The inclusion of the Ethiopian birr on this official list underscores its deepening engagement with Russia, particularly in sectors such as energy, defense, and infrastructure.
Addis Ababa has increasingly sought alternatives to the U.S. dollar for international transactions, a stance that aligns seamlessly with Moscow’s strategy to promote a multi-polar global financial system.
MG/as/APA