The Board of the National Bank of Ethiopia has decided to alter the distribution of foreign currency.
It was reported that the sharing of foreign currency will now be 50/50 rather than the previous 70/30 ratio.
According to the ruling, the National Bank will get 50% of the banks’ foreign exchange gains, the company that created the currency will get 40%, and the banks would get the remaining 10%.
The board of directors adopted numerous financial and budgetary steps to lower inflation, according to Mamo Mehretu, governor of the National Bank.