cbe

USD
56.3778
57.5054
,
GBP
67.791
69.1468
,
EUR
60.8824
62.1
,
CHF
61.0648
62.2861
,
SEK
4.9117
5.0099
,
NOK
4.8688
4.9662
,
DKK
7.3921
7.5399
,
DJF
0.3158
0.3221
,
JPY
0.3396
0.3464
,
CAD
37.8192
38.5756
,
SAR
13.6041
13.8762
,
AED
13.8911
14.1689
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.4448
34.1137
,
SDR
,
ZAR
,
CNY
7.0913
7.2331
,
KWD
174.8588
178.356

awash

EUR
56.5106
57.6408
,
GBP
64.5257
65.8162
,
JPY
0.4037
0.4118
,
CHF
57.4629
58.6122
,
SAR
14.1527
14.4358

abyssinia

GBP
67.791
69.1468
,
CHF
61.0648
62.2861
,
EUR
60.8824
62.1
,
USD
56.3778
57.5054
,
CAD
37.8192
38.5756
,
AED
13.8911
14.1689
,
SAR
13.6041
13.8762
,
SEK
4.9117
5.0099
,
NOK
4.8688
4.9662

abay

USD
56.3677
57.4951
,
EUR
60.7418
61.9566
,
GBP
71.1248
72.5473
,
CHF
63.9815
65.2611
,
AUD
36.8476
37.5846
,
AED
15.3465
15
,
CNY
7.8307
7.9873
,
DKK
8.1483
8.3113
,
DJF
0.3157
0.322
,
INR
0.6783
0.6924
,
JPY
0.3753
0.3833
,
KES
0.3887
0.3965
,
NOK
5.365
5.4723
,
SAR
15.0294
15.33
,
ZAR
2.9677
3.0271
,
SEK
5.4037
5.5118
,
SDR
74.6759
76.1694

zemen

CAD
41.7892
42.625
,
EUR
60.8824
62.1
,
GBP
70.9853
72.405
,
SEK
5.4273
5.5358
,
USD
56.3778
57.5054

buna

nib

GBP
67.791
69.1468
,
EUR
60.8824
62.1
,
CHF
61.0648
62.2861
,
USD
56.3778
57.5054
,
CAD
37.8192
38.5756
,
AED
13.8911
14.1689
,
SAR
13.6041
13.8762

berhan

wegagen

USD
56.1663
57.2896
,
GBP
67.9979
69.3579
,
EURO
60.9124
62.1306
,
CAD
37.9021
38.6601
,
AUD
33.5177
34.1881
,
CHF
60.8664
62.0837
,
SEK
4.8361
4.9328
,
NOK
4.6333
4.726
,
DKK
7.3141
7.4604
,
DJF
0.3128
0.3191
,
INR
0.6693
0.6827
,
KSH
0.3636
0.3709
,
JPY
0.3477
0.3547
,
SAR
13.4673
13.7366
,
AED
13.7552
14.0303
,
ZAR
3.1723
3.2357
,
CNY
7.0448
7.1857
,
KWD
172.7992
176.2552

dgb

USD
56.3778
57.5054
,
GBP
70.9853
72.405
,
EUR
60.8824
62.1
,
CHF
63.9422
65.221
,
CAD
41.7892
42.625
,
AUD
36.9556
37.6947
,
SEK
5.4273
5.5358
,
NOK
5.3799
5.4875
,
DKK
8.1681
8.3315
,
DJF
0.3158
0.3221
,
INR
0.6794
0.693
,
KSH
0.3861
0.3938
,
JPY
0.3753
0.3828
,
SAR
15.0321
15.3327
,
AED
15.3493
15.6563
,
ZAR
2.9646
3.0239
,
CNY
7.8357
7.9924
,
KWD
183.0982
186.7602

enat

addis

nbe

dashen

USD
56.3778
57.5054
,
GBP
67.791
69.1468
,
CHF
61.0648
62.2861
,
SEK
4.9117
5.0099
,
NOK
4.8688
4.9662
,
DKK
7.3921
7.5399
,
JPY
0.3396
0.3464
,
CAD
37.8192
38.5756
,
SAR
13.6041
13.8762
,
AED
13.8911
14.1689
,
EUR
60.8824
62.1
,
DJF
,
INR
,
KES
,
AUD
33.4448
34.1137
,
ZAR
,
CNY
7.0913
7.2331
,
KWD
174.8588
178.356
,
AED

oromia

USD
55.4509
56.5599
,
EUR
58.7724
59.9478
,
GBP
64.394
65.6819
,
SAR
13.3775
13.6451
,
CHF
59.3141
60.5004
,
AED
13.662
13.9352

lion

USD
56.3778
57.5054
,
GBP
67.791
69.1468
,
EUR
60.8824
62.1

coop

USD
56.3778
57.5054
,
GBP
70.9853
72.405
,
EUR
60.8824
62.1
,
SAR
15.0321
15.3327
,
AED
15.3493
15.6563

gadaa

USD
56.3677
57.4951
,
GBP
67.9242
69.2827
,
EUR
60.7418
61.9566
,
AED
13.8886
14.1664
,
SAR
13.6016
13.8736
,
CHF
61.1023
62.3243

hijra

EUR
61.5525
62.7836
,
USD
56.0843
57.206
,
GBP
71.5355
72.9662
,
AED
15.2681
15.5735
,
CAD
41.9322
42.7708
,
SAR
14.9478
15.2468

National Bank of Ethiopia announced Monetary Policy Reform Initiative for Inflation Control

 

National Bank of Ethiopia announced Monetary Policy Reform
 

The National Bank of Ethiopia unveiled its strategic move to reform monetary policy with the overarching aim of reigning inflationary pressures. The decision, as articulated by the Governor of the bank, Mamo Mehretu, through a statement, underscored the Board of Directors resolute commitment to orchestrating a decisive approach towards curbing inflation.

The Governor expounded upon the rationale behind these monetary policy reforms, emphasizing their coordinated nature in tackling the inflation challenge. The decisions reached not only reflect a united effort but also are poised to effectively contribute to the overarching goal of inflation control.

Among these decisive measures, Governor Mamo highlighted a pivotal reform: limiting the direct loans extended to the government to not exceed one-third of the previous year’s allocation. This approach aligns with the recommendation to prioritize the utilization of treasury bills before resorting to direct loans, a strategy that manifests the commitment to prudent fiscal management.

Furthermore, the imperative to control domestic credit growth has led to the establishment of a ceiling of 14 percent by the end of the fiscal year 2016. This directive necessitates that all commercial banks re calibrate their credit growth strategies by the stipulated credit limit.

In response to potential funding shortages faced by banks in Ethiopia, the National Bank of Ethiopia has opted to adjust the interest rate on loan facilities, escalating it from 16 percent to 18 percent. This measure is designed to ensure a balance in the financial ecosystem and optimize the allocation of funds.

In a bid to invigorate the export sector, particularly within the manufacturing realm, a significant change was introduced. The erstwhile mandate of transferring foreign currency in a ratio of 70/30 has been reconfigured to 50/50. This adjustment translates to exporters depositing 50 percent with the National Bank, 10 percent with their partner banks, and retaining 40 percent for their own operational needs.

 

National Bank aims to deprive inflation in the coming 2 years

Governor Mamo articulated a comprehensive vision for inflation control, projecting a decline below 20 percent by the end of the 2016 fiscal year, followed by a further reduction below 10 percent in the 2017 fiscal year. He echoed a call to action, urging the public to rally behind these strategic measures and support the resolute endeavor to rein in inflation.

In essence, the announcement by the National Bank of Ethiopia not only signifies a pivotal moment in the nation’s economic trajectory but also demonstrates a proactive approach toward addressing economic challenges head-on. The comprehensive suite of monetary policy reforms underscores a collaborative commitment to ensure economic stability and sustainable growth, urging stakeholders and the public alike to unite in this collective endeavor.