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Report: Gap Between Ethiopian Currency’s Official and Parallel Market Exchange Rate Grows to New Record

The Ethiopian birr currency’s parallel exchange rate against the U.S. dollar recently dropped to a low of 92 birrs per dollar, a report has said. The report added that following…

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

According to the National Bank of Ethiopia’s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new…

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Report: Ethiopia-Based Crypto Service Providers Told to Register With the Country’s Cybersecurity Agency

Cryptocurrency service providers operating in Ethiopia are now required to register with the country’s cybersecurity agency known as the Information Network Security Administration (INSA), a report has said. According to…

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Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions

The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the…

Continue ReadingEthiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions