Ministry Seizes Foreign Currencies

February 9 , 2019


Ministry Seizes Foreign Currencies

The Ministry of Revenues has disclosed that it has seized various foreign currencies and gold in an attempted smuggling operation. The forex, which was seized at Togo Chale, was in dollars, euros, pounds, Canadian dollars, Australian dollars, Kuwaiti dinars, Swiss franks and other currencies, according to Adanech Abebe, Minister of Revenues. Out of the total value, the largest share was 1.5 million dollars. The Ministry has also confiscated 8,280 euros, 31,990 pounds and seven kilograms of gold. Togo Chale, found between Ethiopia and Somaliland is a major theatre for large foreign currency inflows, while Addis Abeba is the main point where foreign currencies are smuggled out of the country, the Minister said.


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