Regulatory Alerts2023-04-25
Added · Updated
Limits on Birr and Foreign Currency Holding in the territory of Ethiopia
The directive limits the maximum Birr holding for persons entering or departing Ethiopia to 3,000 Birr per travel, with an exception of 10,000 Birr for travel to Djibouti. Persons residing in Ethiopia entering with foreign currency must convert it to Birr or deposit it into a foreign currency account within 30 days, while non-residents staying over 90 days have 90 days to deposit funds into Non-resident accounts. Customs declarations are required for foreign currency holdings exceeding 4,000 USD for residents and 10,000 USD for non-residents, with specific reporting obligations imposed on the Ethiopian Customs Commission. The directive prohibits cash transfers of foreign currency to third parties and transactions in other foreign currencies within Ethiopia, replacing Directive No. FXD/49/2017 effective September 5, 2022.