cbe

USD
124.0086
126.4888
,
GBP
152.3866
155.4343
,
EUR
128.3365
130.9032
,
CHF
134.1436
136.8265
,
SEK
11.0023
11.2223
,
NOK
10.7134
10.9276
,
DKK
16.8993
17.2373
,
DJF
,
JPY
0.7759
0.7914
,
CAD
84.628
86.3206
,
SAR
33.0073
33.6675
,
AED
33.7659
34.4412
,
INR
,
KES
,
AUD
75.3049
76.811
,
ZAR
,
CNY
16.6728
17.0063
,
KWD
394.889
402.7867

awash

abyssinia

USD
129.8451
132.442
,
GBP
167.7564
171.1115
,
EUR
141.9513
144.7903
,
AED
35.3532
36.0603
,
CHF
158.9291
162.1077
,
SEK
13.3258
13.5923
,
NOK
12.3272
12.5737
,
CAD
93.636
95.5087
,
SAR
34.6041
35.2962
,
CNY
17.796
18.1519

abay

USD
129.9498
132.5488
,
GBP
173.7299
177.2045
,
EUR
149.3903
152.3781
,
AED
35.3778
36.0854
,
ZAR
6.9704
7.1098
,
SAR
34.6422
35.335
,
JPY
0.9261
0.9446
,
CHF
160.0367
163.2375
,
AUD
83.1679
84.8312
,
CNY
17.7685
18.1239

zemen

CAD
93.7125
95.5868
,
EUR
142.8576
145.7148
,
GBP
168.7083
172.0825
,
SEK
13.4154
13.6837
,
USD
129.9938
132.5937

buna

USD
129.9426
132.5415
,
EUR
143.9094
146.7876
,
GBP
164.1011
167.3831
,
AED
35.7075
36.4217
,
SAR
34.1012
34.7832
,
CAD
89.1012
90.8832
,
AUD
64.239
65.5238
,
JPY
0.8603
0.8775

nib

USD
129.8187
132.415
,
GBP
167.7244
171.0789
,
EUR
140.0568
142.858
,
CHF
147.2451
150.19
,
CAD
90.7188
92.5332
,
AED
35.3445
36.0514
,
SAR
34.6045
35.2966

berhan

USD
130.9737
133.5932
,
EUR
146.3914
149.3192
,
GBP
168.68
172.0536
,
CAD
94.7643
96.6596
,
AED
35.6566
36.3697
,
CNY
17.9662
18.3255

wegagen

USD
129.9501
132.5491
,
GBP
172.4568
175.9059
,
EUR
147.3634
150.3107
,
CHF
156.8888
160.0265
,
SEK
13.4109
13.6791
,
CNY
17.8032
18.1592
,
JPY
0.9097
0.9278

dgb

USD
128.1012
130.6632
,
EUR
137.0599
139.8011
,
GBP
157.4803
160.6299
,
CHF
130.8214
133.4378
,
SAR
29.9468
30.5457
,
AED
36.7329
37.4675
,
CAD
79.1617
80.7449

enat

USD
130.0305
132.6311
,
EUR
145.1317
148.0343
,
GBP
169.3271
172.7136

ahadu

USD
130.0001
132.6001
,
GBP
174.1091
177.5913
,
EUR
149.9811
152.9807
,
CAD
58.8603
61.8033
,
SAR
21.7111
22.7967
,
AED
22.1751
23.2839

addis

EUR
146.4079
149.3361
,
GBP
171.4862
174.9159
,
USD
129.981
132.5806
,
CHF
160.0751
163.2766
,
JPY
0.9263
0.9448

dashen

USD
129.8515
132.4485
,
EUR
141.5381
144.3689
,
GBP
167.158
170.5012
,
CAD
84.9226
86.621
,
AED
31.9936
32.6335
,
SAR
31.3241
31.9506
,
CNY
16.2776
16.6031

oromia

lion

USD
131.4923
134.1221
,
GBP
165.6027
168.9148
,
EUR
142.3674
145.2147

developmentbank

USD
129.6586
132.2518
,
GBP
173.3406
176.8074
,
EUR
149.0555
152.0366
,
CHF
159.6781
162.8716
,
SEK
13.6609
13.9341
,
NOK
12.5273
12.7778
,
DKK
19.9662
20.3655
,
DJF
0.7262
0.7407
,
JPY
0.924
0.9425
,
CAD
93.7314
95.606
,
SAR
34.5646
35.2559
,
AED
35.2985
36.0045
,
INR
1.5215
1.552
,
KES
0.9974
1.0173
,
AUD
82.9815
84.6411
,
SDR
175.6096
179.1218
,
ZAR
6.9548
7.0939
,
CNY
17.7287
18.0832
,
KWD
423.8021
432.2781

coop

USD
129.0606
131.6418
,
GBP
158.331
161.4976
,
EUR
136.4649
139.1942
,
AED
32.994
33.6538
,
SAR
32.2674
32.9128
,
CNY
17.0172
17.3575

gadaa

USD
130.0202
132.6206
,
GBP
161.73
164.9646
,
EUR
141.2437
144.0686
,
AED
33.7659
34.4412
,
SAR
33.0073
33.6674
,
CHF
134.1436
136.8265

hijra

USD
130.9582
133.5773
,
EUR
142.1449
144.9878
,
GBP
166.066
169.3873
,
SAR
35.1016
35.8036
,
AED
35.8536
36.5707

amhara

USD
131.55
134.181
,
GBP
173.3434
176.8103
,
EUR
145.6916
148.6055
,
CAD
93.1327
94.9954
,
AED
35.8193
36.5357
,
SAR
35.0678
35.7692

tsehay

USD
131.5382
134.169
,
GBP
160.2439
163.4488
,
EUR
130.0158
132.6161
,
CAD
86.9537
88.6927
,
SAR
33.3311
33.9977
,
AED
34.0606
34.7419
,
AED

tsedey

USD
131.5016
134.1316
,
EUR
149.8066
152.8028
,
GBP
174.8577
178.3548
,
AED
35.8003
36.5163
,
CHF
159.5893
162.7811
,
SEK
13.7139
13.9882
,
NOK
12.6141
12.8663
,
DKK
20.0652
20.4666
,
DJF
0.7365
0.7512
,
INR
1.5389
1.5697
,
JPY
0.9266
0.9451
,
CAD
95.1462
97.0492
,
SAR
35.0568
35.7579
,
ZAR
7.0789
7.2205
,
CNY
18.0386
18.3994
,
KWD
429.4053
437.9935
,
KES
1.0139
1.0342

siinqee

USD
129.8515
132.4485
,
EUR
140.3603
143.1675
,
GBP
159.6959
162.8898
,
SAR
23.1262
23.5887
,
CHF
123.4786
125.9482
,
AED
32.7831
33.4388

hibret

USD
129.9
132.498
,
EUR
142.0016
144.8416
,
GBP
165.1219
168.4243
,
CHF
155
158.1

gohbetoch

USD
131.0805
133.7021
,
EUR
141.1293
143.9519
,
GBP
165.0379
168.3387
,
AED
34.3079
34.9941

nbe

JPY
0.9185
0.9277
,
KWD
427.064
431.3347
,
CNY
17.9273
18.1066
,
ZAR
6.9352
7.0045
,
XDR
167.9726
169.6523
,
EUR
148.7559
150.2434
,
AED
35.6609
36.0175
,
SAR
34.9082
35.2573
,
AUD
83.482
84.3168
,
CAD
94.0908
95.0317
,
USD
130.9932
131.3238
,
KES
1.0088
1.0391
,
INR
1.5287
1.544
,
DJF
0.7336
0.7557
,
DKK
19.9208
20.12
,
NOK
12.328
12.4512
,
SEK
13.3275
13.4608
,
CHF
160.5899
162.1958
,
GBP
173.7101
175.4472

binance

USDT
157.46
156.64

 foreign exchange guarantee permit to specific sector of companies

 

 

currency exchange guarantee

 

Ethiopian government allows currency exchange guarantees For foreign companies engaged in joint ventures with government or private companies on projects identified as key or strategic,

 

The approved foreign currency exchange guarantee is to enable foreign companies investing in key projects to withdraw their profits from the implementation of the project in foreign currency from Ethiopia, as well as to pay off the loans they have taken from foreign financial institutions for the projects they implement in Ethiopia without difficulty. The decision was passed by the National Bank of Ethiopia.

 

Deputy Governor of the National Bank Ato Faqadu explained the purpose of this currency exchange guarantee is when foreign companies entering Ethiopia agree to invest in sectors that the government deems to be of strategic importance and want to take their profits, as well as those who have taken loans from foreign financial institutions for their projects in Ethiopia are unable to obtain foreign currency in the country when it is time to repay them, the government will provide foreign currency to them.

 

He explained that under the current system, foreign companies engaged in various sectors in Ethiopia can take their profits in foreign currency, but when the companies want to convert their profits from silver into foreign currency, they are treated like any other foreign currency borrower.

 

According to the recent decision of the National Bank Board, only those foreign companies operating in Ethiopia who have agreed to develop a framework of government-to-government partnership and public-private partnership are allowed to obtain foreign currency guarantees for key developments identified by the government and of national interest.

Mr. Faqadu explained that the government will provide foreign currency to foreign companies so that they do not have difficulty in paying the capital obtained through loans from foreign financial institutions, including their annual profits, for investments in Ethiopia.

The deputy governor explained that apart from participating in selected strategic developments, companies that receive the currency exchange guarantee will also meet other requirements. For example, they must not be required to withdraw foreign currency within a few years of starting the development, they must be engaged in key projects that can earn foreign currency for the country, and they have entered into Ethiopia with an agreement with the Ministry of Finance or other government executive bodies.

 

What are the key projects given the currency exchange guarantees?

 

According to Mr. Fikadu among the key projects which needs the currency exchange guarantee power generation, mining, and infrastructure projects take the leading place.

Since the lack of foreign currency is affecting foreign companies interested in investing in Ethiopia, in addition to the government’s decision to provide foreign currency guarantees, the Minister of Finance, Ahmed Shide, stated in his report to the House of Representatives a few weeks ago that there are foreign companies that have openly submitted the same guarantee request.

 

Mr. Ahmed stated that one of the companies that openly submitted the request is the Abu Dhabi company called MASDAR. According to the agreement with the government, the company will enter Ethiopia to generate 500 megawatts of electricity from solar energy.

 

The agreement was signed in 2021 E.C It is known that the company called Masdar will come with the necessary financing for the project, build power transmission lines including the power plant project, and after the construction is completed, will manage the power plant for many years and sell the electricity produced from the power plant to the government.

 

The minister explained that the other company that intends to enter Ethiopia by signing a similar agreement with the government is AMEA Power.

The minister explained that the company is aiming to carry out a 300-megawatt electricity generation project using wind power in an area called Aisha in the Somali region.

 

Both companies have asked the government to give them a foreign currency exchange guarantee to repatriate the profits from the project and pay off the foreign loans they got for the project. According to the decision of the National Bank Board, they are expected to be the first companies to get foreign currency guarantees from the government.