cbe

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EUR
58.516
59.6863
,
CHF
55.9713
57.0907
,
SEK
4.676
4.7695
,
NOK
4.834
4.9307
,
DKK
7.1135
7.2558
,
DJF
0.2974
0.3033
,
JPY
0.3771
0.3846
,
CAD
36.2863
37.012
,
SAR
12.909
13.1672
,
AED
13.1884
13.4522
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
34.2099
34.8941
,
SDR
,
ZAR
,
CNY
7.1867
7.3304
,
KWD
167.5769
170.9284

awash

abyssinia

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EUR
58.516
59.6863
,
AED
13.1884
13.4522
,
NOK
4.834
4.9307
,
SAR
12.909
13.1672
,
SEK
4.676
4.7695
,
CAD
36.2863
37.012

abay

USD
53.5273
54.5978
,
EUR
58.516
59.6863
,
GBP
65.6191
66.9315
,
CHF
58.6087
59.7809
,
AUD
37.801
38.557
,
AED
14.5728
14.8643
,
CNY
7.9411
8.0999
,
DKK
7.8602
8.0174
,
DJF
0.2974
0.3033
,
INR
0.6534
0.6665
,
JPY
0.4167
0.425
,
KES
0.4289
0.4375
,
NOK
5.3414
5.4482
,
SAR
14.2641
14.5494
,
ZAR
3.1204
3.1828
,
SEK
5.1669
5.2702
,
SDR
72.658
74.1112

zemen

CAD
39.7533
40.5484
,
EUR
57.8729
59.0304
,
GBP
65.2913
66.5971
,
SEK
5.081
5.1826
,
USD
53.408
54.4762

buna

nib

berhan

wegagen

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EURO
58.516
59.6863
,
CAD
36.2863
37.012
,
AUD
34.2099
34.8941
,
CHF
55.9713
57.0907
,
SEK
4.676
4.7695
,
NOK
4.834
4.9307
,
DKK
7.1135
7.2558
,
DJF
0.2976
0.3035
,
INR
0.6534
0.6665
,
KSH
0.4289
0.4375
,
JPY
0.3771
0.3846
,
SAR
12.909
13.1672
,
AED
13.1884
13.4522
,
ZAR
3.1723
3.2357
,
CNY
7.1867
7.3304
,
KWD
167.5769
170.9284

dgb

USD
53.501
54.571
,
GBP
65.8865
67.2042
,
EUR
58.2412
59.406
,
CHF
58.3945
59.5624
,
CAD
40.1961
41
,
AUD
37.8573
38.6144
,
SEK
5.1332
5.2359
,
NOK
5.377
5.4845
,
DKK
7.8299
7.9865
,
DJF
0.2972
0.3031
,
INR
0.653
0.6661
,
KSH
0.429
0.4376
,
JPY
0.412
0.4202
,
SAR
14.2563
14.5414
,
AED
14.5652
14.8565
,
ZAR
3.0843
3.146
,
CNY
7.9378
8.0966
,
KWD
175.2318
178.7364

enat

USD
53.1422
54.205
,
GBP
62.1342
63.3769
,
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
53.5171
54.5874
,
GBP
62.9968
64.2567
,
CHF
56.1698
57.2932
,
SEK
4.6855
4.7792
,
NOK
4.8619
4.9591
,
DKK
7.151
7.294
,
JPY
0.3757
0.3832
,
CAD
36.4432
37.1721
,
SAR
12.9051
13.1632
,
AED
13.1859
13.4496
,
EUR
58.7778
59.9534
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY
,
AED

oromia

USD
53.3285
54.3951
,
EUR
56.7522
57.8872
,
GBP
64.2235
65.508
,
SAR
14.185
14.4687
,
CHF
57.398
58.546
,
AED
14.5198
14.8102

lion

coop

USD
53.3643
55.4316
,
GBP
64.4321
65.7207

How to simply access dollars or foreign currency in Ethiopia in 2022?

Do you want to know how to access dollars or foreign currency in Ethiopia? 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

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

7.6

Awash Bank

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

8.6

Bank of Abyssinia

Ecommerce Payment Gateway

Virtual Banking

Customer Support

E-Commerce

Simplify Customer Experience

Berhan Bank

8.4

Berhan Bank

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