Addis Ababa, May 20, 2025 – The National Bank of Ethiopia (NBE) has introduced new foreign exchange reforms to improve access and transparency for importers, travelers, and the banking public.
The move builds on gains from the July 2024 FX system launch, which drove up exports, improved remittance inflows, and raised foreign exchange reserves to record highs.The changes aim to solve long-standing hurdles allowing, for example, importers to make larger advance payments, easing delays in sourcing goods.Among other changes, the NBE has raised forex limits for personal and business travellers, and doubled the debit card limit for foreign exchange.
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The NBE has also acted to control excessive bank charges. From May 26, 2025, banks must cap all FX-related service fees at 4%. This applies to forex purchases for goods, services, or currency notes. The central bank also advised banks to avoid extra fees for minor services.
In a push for transparency, all banks must publish their forex fees regularly on the NBE website starting in June 2025.
The NBE has been holding foreign exchange auctions, starting with a US$50 million auction on April 1st. The ongoing reforms aim to strengthen country’s foreign exchange market, support businesses, and improve service for individual users.