- Banks told customs prices are references, not mandatory transaction values
- Clarification follows trader fears of rigid FX approvals
ADDIS ABABA, ETHIOPIA – Ethiopia’s central bank has moved to reassure markets after confusion over new import pricing guidance unsettled banks and traders, stressing that customs “indicative prices” are not mandatory benchmarks.
In a public notice, the National Bank of Ethiopia said its earlier directive on import valuation had been misapplied by some lenders, creating uncertainty over how declared import prices should be assessed during foreign exchange allocation.
- Banks told customs prices are references, not mandatory transaction values
- Clarification follows trader fears of rigid FX approvals
ADDIS ABABA, ETHIOPIA - Ethiopia’s central bank has moved to reassure markets after confusion over new import pricing guidance unsettled banks and traders, stressing that customs “indicative prices” are not mandatory benchmarks.
In a public notice, the National Bank of Ethiopia said its earlier directive on import valuation had been misapplied by some lenders . . .
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