cbe

USD
57.2653
58.4106
,
GBP
69.4105
70.7987
,
EUR
61.4457
62.6746
,
CHF
61.4753
63.7048
,
SEK
4.9682
5.0676
,
NOK
4.923
5.0215
,
DKK
7.4564
7.6055
,
DJF
,
JPY
0.3272
0.3337
,
CAD
37.7982
38.5542
,
SAR
13.8141
14.0904
,
AED
14.109
14.3912
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
34.5933
35.2852
,
SDR
,
ZAR
,
CNY
7.1379
7.2807
,
KWD
178.3661
181.9334

awash

USD
57.2653
58.4106
,
EUR
61.4457
62.6746
,
GBP
69.4105
70.7987
,
CHF
61.4753
62.7048
,
SAR
13.8141
14.0904
,
AED
14.109
14.3912
,
CAD
37.7982
38.5542

abyssinia

GBP
69.4105
70.7987
,
CHF
61.4753
62.7048
,
EUR
61.4457
62.6746
,
USD
57.2653
58.4106
,
CAD
37.7982
38.5542
,
AED
14.109
14.3912
,
SAR
13.8141
14.0904
,
SEK
4.9682
5.0676
,
NOK
4.923
5.0215

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.6356
42.4683
,
EUR
61.3505
62.5775
,
GBP
72.5868
74.0385
,
SEK
5.426
5.5345
,
USD
57.2406
58.3854

buna

nib

GBP
69.4105
70.7987
,
EUR
61.4457
62.6746
,
CHF
61.4753
62.7048
,
USD
57.2653
58.4106
,
CAD
37.7982
38.5542
,
AED
14.109
14.3912
,
SAR
13.8141
14.0904

berhan

wegagen

dgb

USD
57.1651
58.3084
,
GBP
73.1806
74.6442
,
EUR
61.3553
62.5824
,
CHF
63.7221
64.9965
,
CAD
41.5052
42.3353

enat

USD
57.2406
58.3854
,
GBP
72.5868
74.0385
,
CHF
64.4819
65.7715
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.5162
15.8261
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

USD
57.2653
57.838
,
GBP
72.6811
72.7098
,
CHF
64.372
64.4009
,
SEK
5.4897
5.4913
,
NOK
5.4398
5.4407
,
DKK
8.2391
8.2396
,
DJF
0.3207
0.3225
,
INR
0.6848
0.6849
,
KES
0.4439
0.4474
,
JPY
0.3616
0.3616
,
CAD
41.766
41.7873
,
AUD
38.2246
38.2475
,
SAR
15.2642
15.265
,
AED
15.59
15.5909
,
EUR
61.4457
61.4686
,
XDR
75.447
75.447
,
ZAR
3.1652
3.1657
,
CNY
7.8872
7.8873
,
KWD
186.7708
186.828

dashen

USD
57.2653
58.4106
,
GBP
69.4105
70.7987
,
CHF
61.4753
62.7048
,
SEK
4.9682
5.0676
,
NOK
4.923
5.02146
,
DKK
7.4564
7.6055
,
JPY
0.3272
0.3337
,
CAD
37.7982
38.5542
,
SAR
13.8141
14.0904
,
AED
14.109
14.3912
,
EUR
61.4457
62.6746
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
34.5933
35.2852
,
ZAR
0
0
,
CNY
7.1379
7.2807
,
KWD
178.3661
181.9334
,
AED

oromia

USD
57.2653
58.4106
,
GBP
72.6811
74.1347
,
EUR
61.4457
62.6746
,
CHF
64.372
65.6594
,
SAR
15.2642
15.5695
,
AED
15.59
15.9018

lion

coop

USD
57.2406
58.3854
,
GBP
72.5868
74.0385
,
EUR
61.3505
62.5775
,
AED
15.5825
15.8942
,
SAR
15.2556
15.5607

gadaa

USD
57.0384
58.1792
,
GBP
69.4569
70.846
,
EUR
91.9494
63.1884
,
AED
14.0523
14.3333
,
SAR
13.7631
14.0384
,
CHF
59.61
60.8022

hijra

amhara

tsehay

USD
57.2406
58.3854
,
GBP
69.3204
70.7068
,
EUR
61.3505
62.5775
,
CAD
37.6802
38.4338
,
SAR
13.8063
14.0824
,
AED
14.1022
14.3842

tsedey

USD
57.2653
58.4106
,
EUR
61.4457
62.6746
,
GBP
69.4105
70.7987
,
AED
14.109
14.3912

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

 

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.

 

The Role of National Bank
The Role of National Bank

 

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