cbe

USD
53.0886
54.1504
,
GBP
62.1019
63.3439
,
EUR
55.9076
57.0258
,
CHF
54.1489
55.2319
,
SEK
4.6487
4.7417
,
NOK
4.9112
5.0094
,
DKK
6.8036
6.9397
,
DJF
0.2949
0.3008
,
JPY
0.355
0.3621
,
CAD
35.7798
36.4954
,
SAR
12.7797
13.0353
,
AED
13.0803
13.3419
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
32.6996
33.3536
,
SDR
,
ZAR
,
CNY
6.9042
7.0423
,
KWD
165.1794
168.483

awash

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
CAD
39.5357
40.3264
,
AED
14.4534
14.7425
,
CHF
56.7004
57.8344

abyssinia

USD
52.8333
53.89
,
GBP
57.1462
58.2891
,
EUR
52.0831
53.1248
,
AED
13.0173
13.2776
,
NOK
4.525
4.6155
,
SAR
12.7148
12.9691
,
SEK
4.287
4.3727
,
CAD
34.7916
35.4874

abay

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
CHF
56.7004
57.8344
,
AUD
36.1321
36.8547
,
AED
14.4534
14.7425
,
CNY
7.629
7.7816
,
DKK
7.5178
7.6682
,
DJF
0.2949
0.3008
,
INR
0.6485
0.6615
,
JPY
0.3922
0.4
,
KES
0.4
0.4409
,
NOK
5.4267
5.5352
,
SAR
14.1212
3.1433
,
ZAR
3.0817
3.1277
,
SEK
5.1367
5.2394
,
SDR
70.5229
71.9334

zemen

CAD
39.5064
40.2965
,
EUR
55.332
56.4386
,
GBP
64.4691
65.7585
,
SEK
5.0667
5.168
,
USD
53.061
54.1222

buna

nib

berhan

wegagen

USD
53.0774
54.1389
,
GBP
62.1396
63.3824
,
EURO
55.8693
56.9867
,
CAD
35.7404
36.4552
,
AUD
32.7503
33.4053
,
CHF
53.6594
54.7326
,
SEK
4.5906
4.6824
,
NOK
4.8276
4.9242
,
DKK
6.7205
6.8549
,
DJF
0.2947
0.3006
,
INR
0.6494
0.6624
,
KSH
0.433
0.4417
,
JPY
0.3471
0.354
,
SAR
12.7667
13.022
,
AED
13.0617
13.3229
,
ZAR
3.1723
3.2357
,
CNY
6.7196
6.854
,
KWD
164.7021
167.9961

dgb

USD
53.0886
54.1504
,
GBP
65.0282
66.3288
,
EUR
55.9076
57.0258
,
CHF
56.7004
57.8344
,
CAD
39.5357
40.3264
,
AUD
36.1321
36.8547
,
SEK
5.1367
5.2394
,
NOK
5.4267
5.5352
,
DKK
7.5178
7.6682
,
DJF
0.2949
0.3008
,
INR
0.6485
0.6615
,
KSH
0.4323
0.4409
,
JPY
0.3922
0.4
,
SAR
14.1212
14.4036
,
AED
14.4534
14.7425
,
ZAR
3.0817
3.1433
,
CNY
7.629
7.7816
,
KWD
172.9627
176.422

enat

USD
53.0886
54.1504
,
GBP
62.1019
63.3439
,
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
53.0886
54.1504
,
GBP
62.1019
63.3439
,
CHF
54.1489
55.2319
,
SEK
4.6487
4.7417
,
NOK
4.9112
5.0094
,
DKK
6.8036
6.9397
,
JPY
0.355
0.3621
,
CAD
35.7798
36.4954
,
SAR
12.7797
13.0353
,
AED
13.0803
13.3419
,
EUR
55.9076
57.0258
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

oromia

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
SAR
14.1212
14.4036
,
CHF
56.7004
57.8344
,
AED
14.4534
14.7425

lion

USD
53.0886
54.1504
,
GBP
65.0282
66.3288
,
EUR
55.9076
57.0258

coop

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