Dollar is being sold up to 115 birr through banks

Mamo Mihretu, Governor of NBE- File

MekelleŠć° 3 March 2023(Tigray Herald)

Due to the huge shortage of foreign currency in the country, she was able to understand from the survey conducted by wazema Radio that the commission charged by the banks in Ethiopia, especially the private ones, to the customers who ask for the currency is higher than the rate set by the National Bank of Ethiopia for the daily sale of the currency.
We were able to understand that the commission demanded from private banks is 55 to 60 birr for one American dollar, and from the banks and traders who allowed currency to import products by paying the requested commission.

The National Bank of Ethiopia has issued a daily rate of 54 birr and 82 cents for banks to sell one US dollar.

Severe foreign currency shortage in Ethiopia is forcing banks to charge higher exchange rates than the Blackmarket.

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