Keyword Analysis & Research: commercial bank of ethiopia rate

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Frequently Asked Questions

What is the national currency of Ethiopia?

Answer: The Ethiopian currency is called Birr and is issued by the National Bank of Ethiopia. One Birr is made up of 100 cents. The Bank notes are in denominations of 1, 5, 10, 50, and 100 Birr and the coins are in denominations of 1,5, 10, 25 and 50 cents.

How many there is in banks in Ethiopia?

With around 100,000 shareholders, there are 18 banks operating in Ethiopia. This makes the country an interactive, captivating space for foreign investment as there are options to choose from. Ethiopia's economy is seeing an unprecedented surge, as World Bank reported that the growth averaging 9.8% a year from 2008/09 to 2018/19.

What is the role of commercial banks in Ethiopian?

The functions of commercial banks of Ethiopia is clearly stated at Art 2 sub Article 2 of the Banking Business Proclamation No 592/2000. And the function of the commercial banks are; I. Accepting Deposits: This is one of the primary function of commercial banks of Ethiopia. The commercial banks accept deposit of their customers.

What is the money in Ethiopia?

The official currency of Ethiopia is the Ethiopian Birr (ETB). The Ethiopian Birr is subdivided into santim; 100 santim = 1 ETB. Br is the symbol used for the Birr.

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