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Non Resident Non Transferable Birr accounts

Non-Resident Transferable and accounts are also non-interest bearing accounts but they are denominated in Birr.

NB The source of funds for NR foreign currency accounts and NR transferable Birr accounts shall be from abroad or shall only be from payments from other NR accounts;

          Non-resident foreign currency account, N/R transferable   Birr account shall be opened in the name of Diplomatic missions, international institutions and their foreign employees

          Without obtaining prior approval of the NBE upon fulfilling the following requirements by NBE directives:

          Letter from the embassy confirming the source of income of the applicant

          Resident ID card

          The maintenance of both NR foreign currency account and NR transferable Birr account at the same time is prohibited;

          NR foreign currency and NR transferable Birr accounts shall only be used for the following purposes as prescribed by NBE directives

          Payments to residents of Ethiopia in Birr

          Drawings in Birr-notes and coins

          Sale of any foreign exchange by an authorized bank

          Payment to other NR accounts

          Bank charges, if any, levied by authorized bank

          Cheques drawn in favor of any person resident outside Ethiopia.

          According to NBE directives No. FXD/11/1998, eligible exporters of goods and services and recipients of inward remittances may open two types of foreign exchange retention accounts, namely:

          Foreign Exchange Retention Account “A”

          Foreign Exchange Retention Account “B”

          The balance held in retention account “A” may be kept for an indefinite period of time and shall be sold fully or partly at a freely negotiable exchange rate at any time in the inter-bank foreign exchange market.

          The balance held in retention account “B” shall only be kept up to 28 days and shall also be sold fully or partly at a freely negotiable rate within the period of 28 days in the inter-bank foreign exchange market

          If not sold, the balance shall be automatically converted into local currency the next working day.

          All Ethiopian nationals living and working abroad for more than one year or business entities owned by non-resident Ethiopians and located outside Ethiopian territory for more than one year may open the following foreign currency accounts:

 

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Exchange Rate for Transactions

July 05, 2022
CURRENCY BUYING SELLING
USD 52.0141 53.0544
EUR 54.3495 55.4365
GBP 63.0723 64.3337
CAD 40.4874 41.2971
AED 14.1593 14.4425
CHF 54.2209 55.3053

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