NEW DIRECTIVE BY NATIONAL BANK OF ETHIOPIA AIMS AT ENCOURAGING EXPORTERS.
The National Bank of Ethiopia has issued a directive that alters the retention amount from foreign exchange earnings in August 2023. The directive No. fxd_84_23 came as part of measures aimed at containing the inflation that has been on a constant rise for quite some time.
The new directive reduces the amount of foreign exchange earning to be surrendered to the National Bank of Ethiopia to 50% from the previous 70% for export earnings while maintaining the 70% for earnings from private remittance and NGO’s transfers.
