FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

Central Bank Eases Forex Rules for Importers, Travellers

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.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Why the Clock Should Not Run Out on Share Ownership

Ownership is widely recognised as the most comprehensive right one can possess over p...

BRICS Countries Plot New World Order as Global South Demands a New Playbook

Brazil's capital, Rio de Janeiro, will host the BRICS+ Summit of presidents and heads...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Expanding Federal Budget Tests Limits of Fiscal Discipline

Jun 21 , 2025

A well-worn adage says, “Budget is not destiny, but it is direction.” Examining t...

Desire to March to the Sea Should Spill Reason on the Way

Jun 14 , 2025

Yet again, the Horn of Africa is bracing for trouble. A region already frayed by wars...

Where the Roof Overhead Comes with a Ceiling on Hope

Jun 7 , 2025

Few promises shine brighter in Addis Abeba than the pledge of a roof for every family...

Courting Foreign Buyers of Properties While Land Remains State-Owned

May 31 , 2025

It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Eth...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

Absence of Agile Discipline

In Ethiopia, across both public and private sectors, a quiet saboteur undermines productivity: the meeting. Too often, gatherings stretch en...

Before Help Can Be Summoned

Over the weekend, a parent shared the story of a friend's teenage son who died after unknowingly taking pills laced with fentanyl. “He was...

Life Matters

The Weight of the World

The film Straw did not just break a heart, it reached into something deeper, unsettling a primal fear that resides in every parent. As a mot...

The Curious Case of Barking Dogs

On multiple occasions, I have found myself watching the garbage collectors on their morning route, a subtle unease settling in. There is a s...