Ethopia: Central bank caps forex spread to 2%, tightens transparency on FX fees

Addis Abeba – The National Bank of Ethiopia (NBE) has introduced a new policy limiting the spread between the buying and selling rates of foreign exchange (FX) transactions to 2%. This adjustment, effective 16 October, 2024, comes after a review of the FX market following the adoption of a new regime in July 2024.

“The foreign exchange trading spread shall be separately identified and generally should not exceed 2% for posted rates,” the NBE