A recent Addis Fortune article highlights ongoing challenges in Ethiopia's foreign exchange market, where the true exchange rate is difficult to determine amid market opacity.
Addis Fortune reports that in Ethiopia's forex market, the real exchange rate stays out of sight, complicating transactions and market transparency. This follows coverage of small banks influencing the market's gradual adjustments, underscoring persistent issues in the sector.
The National Bank of Ethiopia announced changes on 25 May 2026 allowing banks to approve letters of credit without prior central bank approval for certain clients.
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Ethiopia's National Bank Governor Dr. Eyob Tekalgn stated that development efforts in the financial sector are yielding tangible results. This remark came during the Invest Africa 2026 forum in Addis Ababa. The Minister of Labor and Skills also emphasized the need for commitment in knowledge and skills.