Ethiopian Central Bank Restricts Amount of Cash Travelers Can Hold, Sets Foreign Currency Conditions – Africa Bitcoin News

'A person travelling to Djibouti may hold up to a maximum amount of [$190.29] birr 10,000 (birr ten thousand) per travel,' the National Bank of Ethiopia said. birr foreignexchange

Ethiopian Central Bank Restricts Amount of Cash Travelers Can Hold, Sets Foreign Currency Conditions

In a statement, the National Bank of Ethiopia outlines the exact value of both the birr and foreign currency that residents may hold. For Ethiopians re-entering the territory of the landlocked African country, the central bank said they are required to “convert all foreign currency he/she is carrying at an authorized forex bureau for the equivalent sum in birr.” Alternatively, they can deposit the forex into a foreign currency account within 30 days of returning to the country, the central bank added. For residents holding $4,000 or more, the NBE directed that such individuals should make a customs declaration.

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