What is the official currency of Ethiopia?
Post ByAdequate Travel
Summary
Ethiopia is a nation located in the Horn of Africa which has an interesting and fascinating currency system. The official currency of Ethiopia is the Ethiopian Birr, which is issued by the National Bank of Ethiopia. This article explores the history of the Ethiopian Birr and how it is used today. While planning your trip, take note of any travel restrictions that may impact your itinerary, such as limited access to certain regions or attractions.Official Currency of Ethiopia
The official currency of Ethiopia is the Ethiopian Birr.
Points about the Ethiopian Birr:
1. Currency Symbol: The currency symbol for the Ethiopian Birr is "ብር" (in Amharic script) or "ETB" (in Latin script).
2. Subunit: The subunit of the Ethiopian Birr is the Santim.
3. Denominations: The Ethiopian Birr is available in the following denominations: 1, 5, 10, 50, and 100 Birr notes. The coins issued are in denominations of 1, 5, 10, 25, and 50 Santim.
4. Exchange Rate: The exchange rate of the Ethiopian Birr varies with respect to other currencies. It is advised to check with authorized exchange centers or financial institutions for the most accurate rates.
5. Legal Tender: The Ethiopian Birr is the only legal tender accepted for transactions within Ethiopia. It is advisable to have local currency for day-to-day expenses while visiting the country.
6. Central Bank: The National Bank of Ethiopia is the central bank responsible for issuing and regulating the Ethiopian Birr.
7. Currency Restrictions: When travelling to Ethiopia, there might be restrictions on the amount of Ethiopian Birr that can be brought in or taken out of the country. It is recommended to check with customs authorities for the latest regulations.
8. Availability: Ethiopian Birr can be obtained through authorized currency exchange offices, banks, and ATMs within Ethiopia. It is advisable to carry sufficient local currency for areas where electronic payment methods might not be widely accepted.
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