NBE governor visits two independent forex bureaus in the capital

Addis Ababa, October 16, 2024 (FBC) – The Governor of National Bank of Ethiopia (NBE), Mr. Mamo Mihretu, today visited two newly entered independent Forex bureaus that have just opened their doors and started operations in the Bole and National Theater neighborhoods of Addis Ababa.

The Governor welcomed the two new entrants and recognized the important role that such FX bureaus will play in meeting the needs of Ethiopians going overseas for personal or business travel. Both FX bureaus indicated that FX cash notes are available for travelers upon demand.

Mr. Mamo indicated that, alongside the start of independent FX bureaus, FX supply conditions are steadily improving across the banking sector. He urged all banks to continue to entertain customer FX requests and to do so without delays.

He also noted that NBE will continue to play an active role to ensure that there is a steadily growing, liquid, and well-functioning FX market that adequately serves the interests of Ethiopia’s exporters and importers.