Ethiopia imposes ceiling on forex transaction fees
The National Bank of Ethiopia (NBE) has raised forex limits, allowing personal travellers up to $10,000 and business travellers up to $15,000, in cash or by debit card.
The National Bank of Ethiopia (NBE) has directed all commercial banks to set fees and charges related to purchases of foreign exchange (FX), limiting them to not more than 4 percent, with effect from May 26.
The policy shift is part of the latest round of measures to further transform the foreign exchange market following Ethiopia’s decision to liberalise the market starting July last year.
