cbe

USD
52.5772
53.6287
,
GBP
53.9168
54.9951
,
EUR
50.7265
51.741
,
CHF
50.7031
51.7172
,
SEK
4.2027
4.2868
,
NOK
4.4353
4.524
,
DKK
6.1741
6.2976
,
DJF
0.2921
0.2979
,
JPY
0.3301
0.3367
,
CAD
34.8844
35.5821
,
SAR
12.6515
12.9045
,
AED
12.9535
13.2126
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
30.9429
31.5618
,
SDR
,
ZAR
,
CNY
6.6419
6.7747
,
KWD
161.8308
165.0674

awash

USD
52.5772
53.6287
,
EUR
50.7265
51.741
,
GBP
56.4574
57.5865
,
CAD
38.5463
39.3172
,
AED
14.3133
14.5996
,
CHF
53.0922
54.154

abyssinia

USD
52.5772
53.6287
,
GBP
53.9168
54.9951
,
EUR
50.7265
51.741
,
AED
12.9535
13.2126
,
NOK
4.4353
4.524
,
SAR
12.6515
12.9045
,
SEK
4.2027
4.2868
,
CAD
34.8844
35.5821

abay

zemen

CAD
38.5463
39.3172
,
EUR
50.7265
51.741
,
GBP
56.4574
57.5865
,
SEK
4.6862
4.7799
,
USD
52.5772
53.6287

buna

nib

berhan

USD
52.573
53.6245
,
EUR
51.2797
52.3053
,
GBP
55.4237
56.5322

wegagen

USD
52.5646
53.6159
,
GBP
56.7402
57.875
,
EURO
51.8707
52.9081
,
CAD
35.2953
36.0012
,
AUD
31.5586
32.1898
,
CHF
52.4516
53.5006
,
SEK
4.5533
4.6444
,
NOK
4.9026
5.0007
,
DKK
6.4737
6.6032
,
DJF
0.291
0.2968
,
INR
0.6574
0.6705
,
KSH
0.437
0.4457
,
JPY
0.3504
0.3574
,
SAR
12.616
12.8683
,
AED
12.8975
13.1555
,
ZAR
3.1723
3.2357
,
CNY
6.9767
7.1162
,
KWD
162.7597
166.0149

dgb

USD
52.4895
53.5393
,
GBP
60.4259
61.6344
,
EUR
52.1273
53.1698
,
CHF
53.4734
54.5429
,
CAD
39.916
40.7143
,
AUD
35.6719
36.3853
,
SEK
4.858
4.9552
,
NOK
5.2494
5.3544
,
DKK
7.0095
7.1497
,
DJF
0.2916
0.2974
,
INR
0.6577
0.6709
,
KSH
0.4363
0.445
,
JPY
0.3737
0.3812
,
SAR
13.9618
14.241
,
AED
14.2902
14.576
,
ZAR
3.0395
3.1003
,
CNY
7.571
7.7224
,
KWD
170.024
173.4245

enat

USD
52.5772
53.6287
,
EUR
50.7265
51.741
,
GBP
53.9168
54.9951
,
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
52.5772
53.6287
,
GBP
53.9168
54.9951
,
CHF
50.7031
51.7172
,
SEK
4.2027
4.2868
,
NOK
4.4353
4.524
,
DKK
6.1741
6.2976
,
JPY
0.3301
0.3367
,
CAD
34.8844
35.5821
,
SAR
12.6515
12.9045
,
AED
12.9535
13.2126
,
EUR
50.7265
51.741
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

oromia

USD
52.5772
53.6287
,
EUR
50.7265
51.741
,
GBP
56.4574
57.5865
,
SAR
13.9796
14.2592
,
CHF
53.0922
54.154
,
AED
14.3133
14.5996

lion

USD
52.5772
53.6287
,
GBP
56.4574
57.5865
,
EUR
50.7265
51.741

coop

USD
52.5772
53.6287
,
GBP
50.7265
51.741
,
SAR
13.9796
14.2592
,
EUR
50.7265
51.741
,
AED
14.3133
14.5996

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