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The National Bank of Ethiopia said Ethiopia’s foreign missions will start exchanging old banknotes for new ones to meet the demands of citizens working abroad.
Briefing reporters yesterday, NBE Lieutenant Governor Solomon Desta said that the change of new notes is being carried out efficiently; And so far, the Bank has distributed more than 90 billion Birr.
Currently, more than five thousand ATMs are in operation and distributing the new bills, 131 more are ready to operate.
More than 6,000 branches across the country are participating in the effort and Ethiopian embassies are now being given the green light to begin the new currency exchange. Currency exchange in Djibouti will be overseen by a command post, he added.
As for him, the change aims to collect the bills that circulate informally, outside of financial institutions; curb corruption and smuggling and support financial institutions facing a shortage of foreign exchange.
If someone comes across activities contrary to the Bank’s rules and regulations, they should inform the security forces or the Bank.
The schedule is progressing in a healthy way as financial institutions are working in collaboration with the NBE.
For his part, Abebe Senbete, Director of the National Bank’s Currency Management Directorate, said that the new banknote has its own distinctive elements that cannot be duplicated or copied.
