March 21, 2025

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cbe ETHIOPIA

Commercial Bank of Ethiopia Sells $282,459,000 to Customers

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The Commercial Bank of Ethiopia has announced that more than 282 million dollars of foreign currency has been distributed to various customers.

The CBE announced that within the last 2 months or so, $282,459,000 in foreign currency were distributed to various customers seeking foreign currency. The foreign currency was sold in four rounds.

Among the customers who bought foreign exchange are factories, those with import and export business licenses, drug manufacturers, service providers, government and public institutions etc.

In July, the Ethiopian government liberalized foreign exchange market. State control on foreign exchange rates came to an end. Private banks and other private entities were authorized to sell and buy foreign currency. Since then different entities have been buying foreign currency especially US dollars and Euro from government banks.

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