Ethiopia Customs Commission Announces New Exchange Rate Policy for Customs Valuation

The Ethiopia Customs Commission has issued a new circular in line with FX Directive No. FXD/1 2024, which outlines updated procedures for customs valuation. 

Accordingly, starting from 29 July 2024, the indicative daily exchange rate set by the National Bank of Ethiopia (NBE) will be used as the official exchange rate for customs valuation.

For Documents Registered After 29 July 2024 the NBE's daily exchange rate will be applied for all customs valuation. However, for documents registered before 29 July 2024 but are still under customs clearance, the exchange rate applicable on the clearance date will be used.

This new policy aims to standardize exchange rate application and enhance the accuracy of customs valuation. For further details and updates, please visit the Ethiopia Customs Commission website.