Fortune News | May 06,2023
May 21 , 2025
The National Bank of Ethiopia (NBE) announced major changes impacting foreign exchange market, including substantially higher limits for importer advance payments and foreign currency cash for travelers.
According to a statement the Central Bank issued yesterday, these changes target improving market functionality, providing greater flexibility.
The limit on upfront forex payments to overseas suppliers has been increased tenfold, from 5,000 dollars to 50,000 dollars for every transaction, addressing what the Central Bank called a “long-standing constraint” on importers.
Ethiopians travelling abroad will now be allowed to buy up to 10,000 dollars in forex for personal and up to 15,000 dollars for business trips, with withdrawals permitted either in cash or through debit cards. Individuals with foreign exchange accounts can also access up to 20pc of their balance, doubling the previous threshold.
The new measures are part of ongoing efforts, such as the bi-weekly FX auctions.
The Central Bank also announced, effective May 26, 2025, all bank fees and charges related to the purchase of foreign exchange for imports, services, or cash notes shall not exceed four percent. It instructed commercial banks to ensure transparency and avoid supplementary charges for minor services.
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