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Central Bank Eases Forex Rules for Importers and Travellers

May 20 , 2025

The National Bank of Ethiopia (NBE) today announced significant reforms to its foreign exchange market measures, including substantially higher limits for importer advance payments and foreign currency cash for travelers. These changes are aimed at improving market functionality, providing greater flexibility, and aligning with global standards.

The limit on upfront forex payments to overseas suppliers has been increased tenfold, from 5,000 dollars to 50,000 sollars per transaction, addressing what the central bank called a “long-standing constraint” on importers.

Ethiopians travelling abroad will now be allowed to purchase up to 10,000 dollars in forex for personal trips and up to 15,000 dollars for business, 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, aimed at aligning the forex market with global norms and improving liquidity following last year’s reforms.

The NBE also announced the rationalization and simplification of bank FX fees, 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 4 percent. The central bank is instructing commercial banks to ensure transparency and avoid supplementary charges for minor services. Details of FX related fees will be publicly disclosed on the NBE website starting in June 2025.

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