Foreign Exchange (Amendment) Directive No. FXD/03/2025

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Directive No. FXD/03/2025
Amendment to Foreign Exchange Directive No. FXD/01/2024

Whereas, it has become necessary to further amend the Foreign Exchange Directive No. FXD/01/2024 by improving the value limits set in the directive for foreign exchange advance payments and travel abroad; expanding the utilization of foreign exchange funds for traveller to incentivize foreign account holders and boost the country's foreign currency earnings; and allowing outgoing family remittance payments to strengthen future family relationships among Ethiopians living abroad, thereby ultimately enhancing remittance inflows over time;

Now, therefore, in accordance with Articles 6(2 and 17), 39(3, 4 and 6), and 53(2) of the National Bank of Ethiopia Proclamation No. 1359/2025, the National Bank of Ethiopia has issued this Directive.

1. Short Title
This Directive may be cited as the "Foreign Exchange (Amendment) Directive No. FXD/03/2025"

2. Amendments
The Foreign Exchange Directive No. FXD/01/2025 is hereby amended as Follows:
1). Annex 2, sub-article 1.4.3(b) of the Directive is deleted and replaced by the following new sub-article 1.4.3(b):
b. The amount to be approved for advance payment from one supplier shall not exceed USD 50,000.00 (USD Fifty Thousand) or equivalent in other currencies. In case of value exceeding USD 50,000.00 (USD Fifty Thousand) or equivalent in other currencies, an importer should submit foreign bank guarantee confirmed by local Authorized Banks.

2). Annex 4, sub-article 9.1 (paragraphs 1 and 2) of the Directive is deleted and replaced by the following new sub-article 9.1(paragraphs 1 and 2):

1. Personal traveller is entitled to USD 10,000 (USD Ten thousand) or its equivalent in other convertible currencies, which may be provided as cash notes or via a debit card.
2. For personal traveller FCY Account holder, up to USD 10,000 (USD Ten Thousand) or its equivalent in other convertible currencies may be taken in cash notes or via a debit card. In addition, the account holder can take up to 20% of his outstanding FCY Account balance via a debit card.

3. Annex 4; sub-article 9.2 (paragraphs 1, 2 and 4) of the Directive is deleted and replaced by the following new sub-article 9.2(paragraphs 1, 2, and 4):

1. A Forex Bureau may sell foreign exchange up to USD 15,000.00 (USD Fifteen Thousand) or its equivalent in other convertible currencies, which may be provided USD 10,000(USD Ten Thousand) as cash notes or via a debit card, and USD 5,000(USD Five Thousand) by debit card only for a bona-fide business traveller to representatives of business organization, upon presentation of valid licenses together with passport, if applicable, and air ticket.
2. A Forex Bureau may also sell foreign exchange up-to USD 15,000.00 (USD Fifteen Thousand) or its equivalent in other convertible currencies, which may be provided USD 10,000(USD Ten Thousand) as cash notes or via a debit card, and USD 5,000(USD Five Thousand) by debit card only for a bona-fide business traveller to business associations, welfare institutions, and religious associations, organizers of trade exhibitions, tourism, cultural show and sports.
3. A Business Traveller FCY account holder is entitled up-to USD 10,000 (Ten-thousand USD) or its equivalent in other convertible currencies, to be taken in cash notes or via a debit card. In addition, the account holder can take up-to 20% of his outstanding FCY account balance via a debit card.

3. Effective Date
This Directive shall enter into force as of May 20, 2025.

[Signature]
Mamo Esmelealem Mihretu
Governor