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
157.5
156.7

Why are Ethiopian Banks facing a shortage of cash?

Ethiopian Banks facing a shortage of cash
 

Why are Ethiopian Banks facing a shortage of cash, Ethiopian Banks are not  providing services as they are expected to do so or as they are used to. Recently it has been witnessed that  banks are not providing services to their customers, especially to those who requires to withdraw large amounts of cash from their account.

 

It has been seen in the previous week that customers are having a hard time getting the service they want, according to Alain news Amharic and their time spent with the brunch managers confirmed that except few Banks most of the Banks in Ethiopia are now facing cash shortage and has temporarily stopped providing loan services.

 

On the other hand, the customers who visited their nearest branch of the Banks that they are a customer to commented that they are experiencing difficulties in keeping up there day to day tasks because of this problem, according to their words, the Banks exaggerated reasons when the customers request a withdrawal of a large amount of cash or to get a loan.

 

 

What is the reason behind Ethiopian Banks facing a shortage of cash?

 

It has been previously predicted by Ethiopian Economists that Ethiopia’s ability to purchase cash might face a fall following the inflation that the country is facing in addition to the socio-political situation the country is going through

 

One of the known Ethiopian Economist Ato Wasihun made a statement on the situation of Ethiopian Banks facing a shortage of cash by stating the leading causes for the situation, Ato Wasihun said one of the reasons that banks are facing a shortage of cash is the fact that it is the season of closing the budget and paying annual taxes and the large amount of money at private Banks is diverted to government banks.

 

The second reason would be the inflation that the country is facing is due to the high circulation of cash in the market and it may be a step taken to correct this. The third reason is that the cash in the market is returned to the bank for various reasons

 

Ato Wasihun also commented that the third reason may be a measure taken based on the discussion between the banks and the National Bank of banning cash supplies and loans so that the cash in the market can be returned to the bank for various reasons.

 

And last reason for Ethiopian Banks facing a shortage of cash  is that the industries and commercial institutions in operation that have previously taken a large number of loans from the banks are unable to pay their loan on the expected time due to many reasons where one of which is the institutions being unable to earn enough income to cover their debt.

 

according to the economist Mr. Shewafera, the government of Ethiopia has been sending more money to the market than its ability to generate and carry cash in the past years.

 

Banks have banned cash and loans because the National Bank has taken the right steps to deal with inflation and the cost of living said  Another economist, Mr. Shewafera Sthahun,

In particular, the government has been printing large amounts of money, spending large amounts of money on projects that are not helpful to the economy, the political unsettlement has made its contribution to Ethiopia’s economy, said Mr. Shewafera.

 

As a result, not only are citizens exposed to undue inflation, Mr. Shewafera pointed out that the fact that banks continue to give excessive loans has caused additional and complex damage to the economy.

 

The experts stated their positive point of view on the National Bank’s decision to not announce the decision to the public in order not to harm the country’s economy and said that if the cash ban is studied and implemented for a certain period, it will stabilize the inflation. Although the banks’ decision upsets their customers, it will benefit the country by stabilizing inflation.

 

It is also highly pointed out that although Ethiopian Banks facing a shortage of cash  and the  banks’ decision may upset their customers, it will benefit the country by stabilizing the inflation rate, and that the credit ban should be implemented in a manner that does not harm urgent operations.