There are many Forex Exchange providers in Ethiopia, mainly Government and Private Banks. You can exchange any foreign currency that you’re in possession of be it the US dollars or Euros in the Banks.
- However, as much as tourist hotels and travel agencies offer to exchange the foreign currency for you, their rates are a times not favorable than the ones offered in banks.
- Always ensure that you are aware of the current currency exchange rates by reading on the currency reports online.
- Beware of the regulations and rules enforced by the National Bank of Ethiopia that all bills incurred in the country ought to be paid in Ethiopian Birr.
- With this therefore, ensure that you exchange enough cash as you will be required to pay all bills in birr.
- Surprisingly, this rule is not strictly adhered to by most major tourist hotels and Ethiopian Airlines who a times accept or even demand the US dollars or Euros.
- Conversion can only be undertaken if an individual shows proof of having an air ticket from Ethiopia to their own country.
- Failure to show this proof of an onward ticket, the transaction won’t be done at all.
- It is therefore advisable to budget well when exchanging your own foreign currency to Ethiopian Birr since you won’t be allowed to leave the country with the Ethiopian Birr in your pockets.
Is it possible to transact in foreign currency?
- Only certified hotels, duty free shops, immigration offices. Civil Aviation authority and airline ticket offices are entitled to accept payments in foreign currency.
