FXD/23/2003 Foreign Currency Cash Holding by Commercial Banks

The National Bank of Ethiopia has issued Directive No. FXD/23/2004, which regulates the holding and management of foreign currency cash notes by commercial banks, limiting their holdings to 5% of their paid-up capital and outlining procedures for conversion, trading, and surrender of excess holdings. The directive aims to ensure proper management and facilitate the smooth purchase and sale of foreign currency cash notes, with the National Bank of Ethiopia acting as the primary custodian and regulator.