Ethiopian central bank tightens limits on foreign exchange
The Ethiopian central bank has tightened controls on birr and foreign currency use, as fighting resumes in Tigray and Amhara in the country’s ongoing civil war.
National Bank of Ethiopia governor Yinager Dessie signed the directive, which came into effect September 5.
Persons travelling to and from Ethiopia can hold up to 3,000 birr per visit. According to the official daily exchange rate, this is equivalent to $57.15, or around 52 birr to the dollar.
Earlier this year, the birr fell 26% to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Foreign Exchange
China appoints head of foreign exchange regulator
Veteran banking executive Zhu Hexin to lead Safe in latest change among senior financial officials
China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
Nigerian central bank warns against cash panic
Central bank ends currency replacement plan as Cardoso pledges more limited role
Malawi imposes capital controls after devaluation
Central bank devalued kwacha by 30% against US dollar last week
Indonesia and Singapore renew bilateral liquidity lines
MAS and Bank Indonesia also renew bilateral repo agreement
Riksbank to sell reserves to hedge currency risk
Central bank aims to sell around $10.1 billion and will provide update from October 13
Central banks of UAE and Egypt agree currency swap
Latest currency support move by UAE comes amid mounting pressure on Egyptian pound
Iraqi central bank bans use of dollar for internal transactions
Move comes as tension with US over money laundering and Iran causes growing dollar shortage