Ethiopia has specific rules for foreign exchange. Whether you're visiting, sending money, or doing business, here's what you need to know.
Bringing Money In
- Cash: You may bring foreign currency (USD, EUR, etc.) into Ethiopia. Declare amounts above a certain threshold at customs if required.
- No limit on birr: You can bring birr in, but exporting large amounts of birr is restricted.
Exchanging Currency
- Authorized dealers: Commercial banks and licensed forex bureaus can exchange currency.
- Rates: The National Bank of Ethiopia (NBE) sets a reference rate. Banks and bureaus trade within a band. Rates vary—compare on Birr Value.
- Documentation: For larger exchanges, you may need to show ID and explain the purpose (travel, business, etc.).
Exporting Currency
- Birr: Export of birr is limited. Convert excess birr to foreign currency at a bank before leaving if possible.
- Foreign currency: You may take out what you brought in, subject to declaration rules. Funds from remittances or local earnings have different rules—check with your bank.
For Diaspora and Businesses
- Diaspora accounts: Some banks offer accounts for non-residents with foreign currency options.
- Import/export: Businesses use formal banking channels for trade payments. The NBE and commercial banks facilitate this.
- Remittances: Sent through licensed providers (see our remittance guide).
Staying Compliant
Regulations change. For the latest rules, consult the National Bank of Ethiopia or a licensed bank.