Ethopia: NBE Eases Rules For Exporters, Allowing 50% Retention Of Foreign Currency Earnings

Addis Abeba – The National Bank of Ethiopia (NBE) has revised its foreign currency retention policy, granting exporters increased flexibility in the use of their hard currency earnings.

Effective today, 14 November, 2024, the updated policy permits exporters to retain 50% of the foreign currency they generate in their Ethiopian accounts for an indefinite period, while requiring them to surrender the remaining 50% to commercial banks.

Previously, exporters were…