According to CoinMeta, the Central Bank of Ethiopia has invested $2.2 billion this year to defend the continuously declining currency, the Birr. Last week's intervention attracted four times as many buyers as were willing to pay. However, due to high oil prices putting pressure on Ethiopia's economy, these measures are still not sufficient to stop the depreciation of the Birr. This year, the Birr has depreciated by 3.2%, falling to a historic low of nearly 1 US dollar to 162 Birrs, making it one of the worst-performing currencies in Africa over the past year. Sarah Baynton - Glen, an economist at Standard Chartered Bank for Africa, stated that the foreign exchange shortage is caused by a structural current account deficit.