FXD/60/2019 Fixation of Daily Foreign Exchange cash notes and transaction Rate

The National Bank of Ethiopia has issued a directive (FXD/60/2019) to amend the fixation of daily foreign exchange cash notes and transaction rates, aiming to create a clear computation among banks. The directive sets rules for foreign exchange rate fixation, including a 2% margin between buying and selling rates, and imposes penalties for non-compliance, with an effective date of February 15, 2019.