The National Bank of Ethiopia Allows Exporters to Retain 50% of Foreign Currency Earnings Indefinitely
In a policy shift aimed at enhancing foreign currency flexibility for exporters, the National Bank of Ethiopia (NBE) announced that exporters would be allowed to retain 50 percent of the foreign currency they generate indefinitely. Under this new system, exporters can sell half of their foreign currency earnings immediately and hold the remaining half in their accounts in Ethiopia without time restrictions.
Add a comment Add a comment
Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 13 November 2024.
Wegagen Bank has reported growth in its financial performance, with total assets reaching Birr 65.7 billion for the 2023/24 fiscal year. The announcement was made during the bank's 31st regular and 15th emergency general meeting of shareholders, held in Addis Ababa.
