The Commercial Bank of Ethiopia (CBE), the country’s largest commercial bank, has confirmed that it has released more than USD 1.3 billion in foreign exchange since July 1, 2025.

The bank said the allocations underscored its central role in meeting Ethiopia’s foreign currency needs and supporting the national economy by ensuring a steady supply of foreign exchange to customers.

On August 16, CBE approved all pending client applications, authorizing foreign exchange transactions worth USD 420.4 million to cover various business and service needs. Combined with allocations made since July 29, total approvals reached USD 541.4 million, benefiting 1,140 customers, the statement said.

These disbursements are in addition to the bank’s routine daily provisions of foreign exchange for priority imports and services, including fuel, fertilizer, and other essential payments. Overall, CBE confirmed that it has provided USD 1.34 billion in foreign exchange for trade and service payments over the past six weeks.

The Commercial Bank of Ethiopia reaffirmed its commitment to continue meeting customer demand and supporting the country’s strategic sectors through consistent foreign exchange provisions.

Source: Fana BC