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

A Comprehensive Look at the National Bank of Ethiopia

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.

National Bank of Ethiopia
Headquarters of the National Bank of Ethiopia

The Roles of The Nation 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.
Institutions governed by the National Bank of Ethiopia
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 National Bank of Ethiopia: 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 II, the then ruler of Ethiopia, and Mr. Ma Gillivray, representative of the British owned National Bank of Egypt.

Emperor Menilik II
Emperor Menilik II

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 1935. Upon 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 country. This 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 market: The 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, visit their official page using the link: nbe.gov.et