NBE to Allow Unlimited Deposits of Legally Earned Foreign Currency

National Bank of Ethiopia plans to allow unlimited deposits of legally earned foreign currency in commercial banks.

Policy targets individuals and entities earning foreign currency through legal channels.

Reform aims to ease foreign exchange constraints affecting importers and exporters.

NBE governor Eyob Tekalign presented the measure during the central bank’s six-month performance report to parliament.

NBE conducted biweekly foreign currency auctions, collecting ETB 1.3 trillion in the first half of the fiscal year.

Parliamentary committee raised concerns on credit supply, trade imbalance, and monitoring foreign exchange demand.

Why it matters?

The measure could increase formal foreign currency inflows into the banking system.
It may support import financing, export operations, and foreign exchange availability.