Description

The Directive is issued by the National Bank of Ethiopia to regulate the limit of birr holding amount for persons entering and departing from Ethiopia; Whereas, and also to set the conditions, limitations and circumstances under which Ethiopians, residents of Ethiopia, and non-residents or any other person who may possess and utilize foreign currency. Hence, as per article 4(2), any person not residing in Ethiopia who enters Ethiopia carrying foreign currency exceeding USD 3000 or equivalent in any other convertible currency is required to declare upon arrival at the point of entry. Also, under article 4(3) (1) &(2), any person residing in Ethiopia is allowed to carry with him foreign currency amount exceeding 1000 USD for which he can produce a bank advice or customs declaration for a period not exceeding 30 days from the date of acquisition and/or declaration of the foreign currency; any person in Ethiopia who is travelling abroad and who carries with him foreign currency exceeding USD 3000 or equivalent in any other convertible currency is required to produce a bank advice or a foreign currency customs declaration declared at the entry point.