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

Foreign Currency in Ethiopia: How to Easily Access a Dollar?

Foreign Currency in Ethiopia Guide.

Do you want to know how to access dollars or foreign currency in Ethiopia without going through black market? without going through the hassle of changing birr to dollar? Or You want to directly use your dollars in home country?

Introduce yourself to the Diaspora account service, which is actively operating in Ethiopia, some of the bank to go to, which provides you this service are Awash bank, Zemen Bank and Dashen Bank, Foreign currency account for diaspora is designed to enable Diasporas access major currencies which are Dollars, Euro or pounds directly from their deposited account. here is a step by step guide to how to open a foreign currency account 

Foreign Currency in Ethiopia and Its Government

The government of Ethiopia’s foreign exchange reserves continue to be in low supply, posing a long-standing barrier for those wishing to source from overseas. Foreign exchange reserves have been depleted as a result of international loan commitments signed to pay previously constructed infrastructure projects.

All international transfers need licenses, and all foreign exchange transactions must be conducted through approved dealers monitored by the NBE. Imports must be financed through Ethiopian bank accounts. The NBE has transferred the majority of foreign exchange transaction functions to commercial banks, but retains the power to authorize substantial foreign exchange allocations. In addition, the NBE forces commercial banks to forfeit 30% of their foreign exchange gains. more detailed information could be found here but they are not properly updated more info

Having an experience of home investments in my home country, I have had challenges with shortage of currency, since my business requires import of chemicals and inputs, we have been having difficulties with the depreciating money, it sucked on the profit we were making that we were in a constant finance distress, few years ago I have been introduced to the Diaspora account, from that time we were able to make our import at a lower cost than we did before. With the soaring inflation and devaluing currency, it would have been hard for us to survive in business. “said Kebede Makalu CEO of INERIT Medical manufacturing 

 

Banks That With good reputation regarding foreign currency in Ethiopia

Awash Bank

Awash Bank

8 Rating

15% Loan Interest

Banking and Services for micro finance institutions

School Tution Fee Collection Services

Lucy Women's Saving

Business Banking

Plenty of business banking choices

Bank of Abyssinia

Bank of Abyssinia

9.1 Rating

16% Loan Interest

Ecommerce Payment Gateway

Virtual Banking

Customer Support

E-Commerce

Simplify Customer Experience

Berhan Bank

Berhan Bank

8.8 Rating

15.5% Loan Interest

Salary Fund Management

Premium Savings Accounts

Online School Pay

Berhan School Pay

Time saving payment method

Diaspora Account is one of the major ways to preserve and store foreign currency in Ethiopia. For that reason banks are trying to acquire the diaspora based customers from aboard.

To benefit from a diaspora account, you need to be or have one of the following for  More detail on how to open diaspora account

  • Non-resident Ethiopian or a Non-resident foreign national of Ethiopian origin
  • An Ethiopian national living and working abroad or in due process of living abroad for work for more than one year and who can produce authenticated documents.
  • Companies owned by the above-mentioned nonresidents and located outside the Ethiopian territory for more than one year.

Once you make sure that you fulfill at least one of the criteria, you can open the account whether you are in Ethiopia or in the country you are residing via post. while applying to the account if you cannot physically appear to the bank, you can use the nearby Ethiopian Embassies, correspondent banks or remittance service providers to prove your identity. To find the full service you can go to the site of the banks we have listed that provide you a diaspora account.

Foreign Currency in Ethiopia

Having a foreign currency account can be a powerful tool to enable you make transactions very easily and in overall increase the efficiency of your business

You can 

  • Make local payment in Birr
  • Transfers to other foreign currency accounts in any of the authorized banks in Ethiopia.
  • Make payment for your imports or other Foreign Service Payments provided the account holder has the required business license to do so.
  • Make transfers abroad
  • Withdraw for travel allowance of your requirements in cash notes or any other instruments upon presentation of valid travel document. 
  • Convert into a Birr account at the prevailing exchange rate.
  • Pay for authorized bank charges, if any, levied by the opening bank
  • Serve as collateral or guarantee for loans or bids.

Following the trend and leveraging the heat of incentives is what help you achieve your dream in whatever business you are in.

The government has recently opened up sectors for diasporas that were once reserved to domestic investors, and the country has been opening up to foreign investment across sectors. Unlike the past, the legal security of ownership for Diasporas will further catalyze engagements in financial services. 

For any Diaspora or anyone who wants foreign currency for business, travel or any reason having a foreign currency account or. Diaspora account is not an option but a basic necessity