cbe

USD
56.3942
57.5221
,
GBP
67.8914
69.2492
,
EUR
60.8775
62.0951
,
CHF
61.138
62.3608
,
SEK
4.9131
5.0114
,
NOK
4.8627
4.96
,
DKK
7.3918
7.5396
,
DJF
0.3158
0.3221
,
JPY
0.3401
0.3469
,
CAD
37.7184
38.4728
,
SAR
13.6076
13.8798
,
AED
13.8932
14.1711
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
33.4291
34.0977
,
SDR
,
ZAR
,
CNY
7.0975
7.2395
,
KWD
175.0012
178.5012

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
56.3778
57.5054
,
EUR
60.8824
62.1
,
GBP
70.9853
72.405
,
CHF
63.9422
65.221
,
AUD
36.9556
37.6947
,
AED
15.3493
15.6563
,
CNY
7.8357
7.9924
,
DKK
8.1681
8.3315
,
DJF
0.3158
0.3221
,
INR
0.6794
0.693
,
JPY
0.3753
0.3828
,
KES
0.3861
0.3938
,
NOK
5.3799
5.4875
,
SAR
15.0321
15.3327
,
ZAR
2.9646
3.0239
,
SEK
5.4273
5.5358
,
SDR
74.6893
76.1831

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

The National Bank limiting the amount of direct loans to the government to 25 %

National Bank limiting the amount of direct loans

 

The National Bank of Ethiopia, which has been announcing policy reforms to stabilize the financial sector, has decided to limit direct loans to the government by 25% in the current fiscal year. According to the Board of Directors of the National Bank Regular meeting held on August 1, 2015, E.C. Among the many policy measures he approved for immediate implementation was the decision to drastically reduce the amount of direct loans the National Bank will provide to the government in the current fiscal year.

The board’s final decision was announced on August 5, 2015, E.C. National Bank has decided to reduce the amount of direct loans given to the government to no more than one-third or 1/3 of the amount, in other words, this loan amount will be limited to 25 percent.

The Ministry of Finance announced in a statement that it has come to an agreement that the government’s treasury document, which uses direct loans as a last resort, will only be used when sufficient amounts cannot be presented to the market.

The Central Bank stated that Ethiopia’s fiscal challenge has increased due to the continuous pressures (COVID, conflict, drought) in the past two years that have increased the government’s spending needs and reduced income growth. the bank recalled that due to limited foreign loans and aid, most of the budget deficit was forced to be covered by loans from domestic financial sources, especially from the National Bank of Ethiopia.

It was announced that the board of directors and management of the National Bank has decided to put a limit on the growth of loans to the government and the private sector in the fiscal year 2016 by giving priority to reducing inflation and that the growth of bank (credit) loans will be limited to 14 % by the end of June of the fiscal year 2016, thus all business

On the other hand,it is remembered that National Bank announcement on when banks are faced with a cash shortage, the interest they pay on the emergency credit facility from the National Bank of Ethiopia is said to be increased from 16 percent to 18 percent, and the Forex surrender requirement has been reduced to revive the business of manufacturing products.

According to the new guidelines announced by the National Bank, exporters of goods and services are allowed to transfer 50 percent of the foreign currency they earn to the National Bank, ten percent to their banks, and deposit the remaining 40 percent into their bank accounts.

It should be noted that the monetary policy measures that have been announced will not reduce the growth of bank loans, the National Bank said, curbing credit growth is not a goal in itself, but it is an important part of the common goal of continuously reducing inflation in Ethiopia.

 

The National Bank lead rule regarding the loan ceiling is up to 2016

 

It is stated that it is a temporary measure that will only last until the middle of the year. After that, it was announced that the bank will move to a monetary policy framework based on interest rates, which is currently used by most countries in the world. Among the three issues that the National Bank is mainly working on, the first of the three issues that the National Bank is working on is to check inflation in the short term, said the governor of the National Bank of Ethiopia, Mamo Mehretu.

It is remembered that he spoke at the recent international conference organized by the Ethiopian Economics Association.The National Bank of Ethiopia and other studies have shown that supply constraints, increased production costs, and macroeconomic policies are the cause of price inflation in Ethiopia at different levels and at different times.

The bank’s detailed assessment in June 2015 indicated that he confirmed that supply limitations, rising production costs (including external factors), and large fiscal and monetary policies contributed to price inflation in Ethiopia.

The National Bank of Ethiopia reminded us that fiscal and monetary policies were lax due to a series of internal and external events in Ethiopia. Although macroeconomic policies are not the only reasons for inflation in this period, they did not support the work of fighting inflation, The decision announced on August 5, 2015 has been made considering that there will be a risk of inflation in the medium term and it is necessary to take appropriate and prudent policy measures to reduce inflation at a high level and continuously.

 

The general measures taken to reduce inflation include decreasing the current inflation by 20% at the end of June of the 2016 fiscal year,  and to 10 %, in 2017.