The National Bank of Ethiopia issued an amended directive raising the maximum amount of foreign exchange cash overseas travelers can obtain from authorized foreign exchange dealers, Fortune reported.

The amended foreign exchange directive become become effective as of as of October 4, 2013.

 Overseas business travelers can now obtain as much as US$10,000 in cash or equivalent in convertible currencies from authorized foreign exchange dealers.

In the previous directive, the maximum amount of foreign exchange overseas travelers could obtain was limited at US$3,000.

The banks latest move is following the termination of the use of traveler's cheques in Ethiopia since August 2013, Fortune reported citing, Yohannes Ayalew, vice governor of monetary stability at the National Bank of Ethiopia.

Previously, overseas travelers who want more cash in addition to the 3000 were allowed to obtain additional US$700 through travelers cheques.

Source: Fortune