cbe

USD
52.2967
53.3426
,
GBP
60.5414
61.7522
,
EUR
53.8185
54.8949
,
CHF
52.9566
54.0157
,
SEK
4.6636
4.7569
,
NOK
4.9659
5.0652
,
DKK
6.5474
6.6783
,
DJF
0.2905
0.2963
,
JPY
0.3543
0.3614
,
CAD
37.0536
37.7947
,
SAR
12.6008
12.8528
,
AED
12.8838
13.1415
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.5796
34.2512
,
SDR
,
ZAR
,
CNY
7.0183
7.1587
,
KWD
162.7554
166.0105

awash

USD
52.2967
53.3426
,
EUR
53.8185
54.8949
,
GBP
63.3941
64.662
,
CAD
40.9432
41.7621
,
AED
14.2362
14.5209
,
CHF
55.4519
56.5609

abyssinia

USD
52.2967
53.3426
,
GBP
60.5414
61.7522
,
EUR
53.8185
54.8949
,
AED
12.8838
13.1415
,
NOK
4.9659
5.0652
,
SAR
12.6008
12.8528
,
SEK
4.6636
4.7569
,
CAD
37.0536
37.7947

abay

zemen

CAD
40.9432
41.7621
,
EUR
53.8185
54.8949
,
GBP
63.3941
64.662
,
SEK
5.1531
5.2562
,
USD
52.2967
53.3426

buna

nib

EUR
53.8185
54.8949
,
CHF
52.9566
54.0157
,
CAD
37.0536
37.7947
,
SEK
4.6636
4.7569
,
AED
12.8838
13.1415
,
SAR
12.6008
12.8528
,
ZAR
3.193
3.2569
,
JPY
0.3543
0.3614
,
KES
0.4345
0.4431
,
DJF
0.2905
0.2963
,
INR
0.6517
0.6648
,
CNY
7.0183
7.1587
,
DKK
6.5474
6.6783
,
NOK
4.9659
5.0652
,
AUD
33.5796
34.2512

berhan

USD
52.268
53.3134
,
EUR
53.444
54.5129
,
GBP
60.3434
61.5503

wegagen

USD
52.2502
53.2952
,
GBP
60.4227
61.6312
,
EURO
53.4624
54.5316
,
CAD
36.7759
37.5114
,
AUD
32.9965
33.6564
,
CHF
50.9093
51.9275
,
SEK
4.4654
4.5547
,
NOK
4.6604
4.7536
,
DKK
6.4213
6.5497
,
DJF
0.2893
0.2951
,
INR
0.6562
0.6693
,
KSH
0.4403
0.4491
,
JPY
0.3466
0.3535
,
SAR
12.5465
12.7974
,
AED
12.8228
13.0793
,
ZAR
3.1723
3.2357
,
CNY
7.0235
7.164
,
KWD
161.4993
164.7293

dgb

USD
52.2795
53.3251
,
GBP
63.7914
65.0672
,
EUR
53.9681
55.0475
,
CHF
55.5751
56.6866
,
CAD
40.9233
41.7418
,
AUD
37.1394
37.8822
,
SEK
5.2102
5.3144
,
NOK
5.5021
5.6121
,
DKK
7.2546
7.3997
,
DJF
0.2904
0.2962
,
INR
0.6566
0.6697
,
KSH
0.438
0.4468
,
JPY
0.3949
0.4028
,
SAR
13.9126
14.1909
,
AED
14.2315
14.5161
,
ZAR
3.2301
3.2947
,
CNY
7.7573
7.9124
,
KWD
170.5932
174.0051

enat

USD
52.2967
53.3426
,
EUR
53.8185
54.8949
,
GBP
60.5414
61.7522
,
CHF
0
0
,
SEK
0
0
,
NOK
0
0
,
DKK
0
0
,
KES
0
0
,
JPY
0
0
,
DJF
0
0
,
CAD
0
0
,
AUD
0
0
,
SAR
0
0
,
AED
0
0
,
ZAR
0
0
,
CNY
0
0

addis

GBP
59.4718
60.6612
,
USD
52.1166
53.1589

nbe

KWD
126.8085
129.34467
,
CNH
5.6258
5.738316
,
ZAR
2.6751
2.728602
,
AED
9.9063
10.104426
,
SDR
57.7908
58.946616
,
EUR
48.4016
49.369632
,
CAD
28.7765
29.35203
,
AUD
28.3265
28.89303
,
JPY
0.3389
0.345678
,
SAR
9.7001
9.894102
,
INR
0.5525
0.56355
,
DJF
0.2234
0.227868
,
KES
0.3664
0.373728
,
DKK
5.8896
6.007392
,
NOK
4.2714
4.356828
,
SEK
4.3114
4.397628
,
CHF
41.5822
42.413844
,
GBP
53.539
54.60978

dashen

USD
52.2967
53.3426
,
GBP
60.5414
61.7522
,
CHF
52.9566
54.0157
,
SEK
4.6636
4.7569
,
NOK
4.9659
5.0652
,
DKK
6.5474
6.6783
,
JPY
0.3543
0.3614
,
CAD
37.0536
37.7947
,
SAR
12.6008
12.8528
,
AED
12.8838
13.1415
,
EUR
53.8185
54.8949
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

oromia

USD
52.2967
53.3426
,
EUR
53.8185
54.8949
,
GBP
63.3941
64.662
,
SAR
13.9235
14.202
,
CHF
55.4519
56.5609
,
AED
14.2362
14.5209

lion

USD
52.2967
53.3426
,
GBP
63.3941
64.662
,
EUR
53.8185
54.8949

coop

USD
52.2967
53.3426
,
GBP
63.3941
64.662
,
EUR
53.8185
54.8949
,
SAR
13.9235
14.202
,
AED
14.2362
14.5209

The National Bank of Ethiopia: A Quick Overview

The National Bank of Ethiopia was inaugurated in 1963 to engage in the singular task of central banking for Ethiopia. Prior to proclamation 206/1963 during the Imperial regime, the institution was engaged in the double duty of commercial and central banking. The National Bank was given considerable administrative autonomy and legal personality in addition to an increase in capital.

 

Headquarters of the National Bank of Ethiopia
Headquarters of the National Bank of Ethiopia

 

 

 

The Role of National Bank of Ethiopia

The roles the National Bank performed went through a myriad of changes in tandem with changes in government administrations before settling on the market-based economic policy proclamation 83/1994

  • Manage money and credit supply and availability, as well as interest rates and other adjustments.
  • Put restrictions on gold and foreign exchange assets held in deposits by banks and other financial organizations licensed to trade in foreign exchange.
  •  Establish limitations on banks’ and other financial institutions’ net foreign exchange positions, as well as the terms and quantity of their external debt.
  •  Provide banks and other financial institutions with short and long-term refinancing options. Additionally, the proclamation augmented the Bank’s paid-up capital by ETB 20 million.

 

 

As of 2022, the National Bank of Ethiopia oversees the 19 banks, 18 insures, 41 microfinance institutions, and 1966 Ethiopian institutes of financial studies that exist in the country.

 

 

History of the Bank: From Inception to 2022

The long history and origination of the National Bank of Ethiopia dates back to 1905 when an agreement was reached between Emperor Menelik IIthe then ruler of Ethiopia, and Mr. Ma Gillivray, representative of the British owned National Bank of Egypt.

The pact resulted in the inauguration of the first bank in Ethiopia in Feb.16, 1906. The bank was christened as the Bank of Abyssinia and was under the full management control of the Egyptian National Bank until the Bank’s liquidation in 1931. This happened due to a number of reasons, some of which included its inefficiency and profit-driven nature.

 

Immediately following this event, Ethiopia formed the Bank of Ethiopia, the first fully-African owned bank on the continent, by an official order on August 29, 1931 with an initial capital of £750,000.

 

The bank took over the commercial duties of the former bank and continued successfully before briefly ceasing operation during the Italian invasion of 1935Upon its reinstitution, the State Bank of Ethiopia was granted the sole right of issuing currency and dealing in foreign currency while also acting as the principal commercial bank in the countryThis went on until the proclamation mentioned at the very beginning (206/1963) divided the function of commercial and central banking attributing the former to National Bank of Ethiopia and the latter to Commercial Bank of Ethiopia.

 

 

Fun fact: In contrast to the prior State Bank of Ethiopia, the new Commercial Bank of Ethiopia employed only Ethiopians.

 

However, on September 1, 1976, monetary and banking proclamation No. 99 of 1976 went into effect, defining the National Bank’s duty in accordance with the country’s socialist economic principles adopted during the Derg regime.

Logo of the Ethiopian Workers' Party
Derg Regime/ Workers’ Party of Ethiopia

 

Besides altering the role of this institution to participate actively in national planning and broad its area of regulation to include other financial institutions such as insurance institutions, credit cooperatives and investment-oriented banks, the declaration reintroduced the term Ethiopian “birr”, replacing Ethiopian dollar as the legal tender.

Only three banks remained in the finance industry left behind by the socialist-oriented government, each with a monopoly in its own marketThe National Bank of Ethiopia (NBE), the Commercial Bank of Ethiopia (CBE), and the Agricultural and Industrial Development Bank (AIDB)

 

The Ethiopian People’s Revolutionary Democratic Front (EPRDF) established a liberal economy system when the Derg dictatorship, which had dominated the nation for 17 years under a command economy, fell apart in 1991. This brings us back to the Monetary and Banking Proclamation of 1994 established Ethiopia’s national bank as a judicial body apart from the government and defined its chief functions listed above.

 

To read more on the National Bank of Ethiopia, it’s directives and publication, visit their official page using the link: nbe.gov.et