Ethiopia Travel Money Exchange: Cash, Currency and Credit Cards

Backpacking in Ethiopia is uncommon, making this a fantastic destination and the ideal reason to vacation in Ethiopia. It is a relatively inexpensive nation to visit, with many gorgeous attractions. But Ethiopia's travel money exchange is the most common worry of tourists visiting this country.

In this article, let's explore Saudi Immigration Services about Saudi Arabia's currency and how to exchange money for travelers.

1. What are Ethiopia currency and cost?

Ethiopia’s Currency

The Ethiopian Birr is the country's official currency. Some tour firms charge in USD as well. The exchange rate in recent was as follows:

$1 = 48.25 Birr

€1 = 54.25 Birr

Cost in Ethiopia

Ethiopia is an affordable destination. It is ideal for budget backpackers and independent travelers who want to see regions. However, because the nation is vast and transportation takes time unless you fly, having enough time is essential.

In Ethiopia, a daily budget of $20 to $40 is enough. The excursions and trekking possibilities are the most important aspects. Some of the most costly highlights are as follows:

• Depression Tour with Danakil ($350-400).
• ($600) Omo Valley Tour.
• Trekking in the Simien Mountains ($160).
• Trekking in the Lalibela Mountains ($75).
• Churches in Lalibela ($50).

Ethiopia currency and cost

2. How to exchange money in Ethiopia?

The quickest way to convert money in Addis is at the Bole airport's foreign exchange office or at banks. Some high-end hotels provide currency exchange services, though the Ethiopian exchange rates may not be as favorable as those offered by banks. The Commercial Bank of Ethiopia (CBE) branch at Bole Airport is open seven days a week, and the terminal presently has three ATMs. Dashen and Wegagen banks have ATMs in Addis and numerous cities around the nation. Carry enough cash because locating operational ATM machines is difficult.

It's worth noting that many smaller towns have no bank or a bank that isn't suited to conduct foreign exchange transactions. Common sense demands that you try to arrange ahead of time to avoid changing money in a small town. Limit your transactions to Addis Ababa, Bahir Dar, Gondar, Axum, Adigrat, Mekele, Dessie, Adama, Awasa, Arba Minch, Jimma, Dire Dawa, and Harar. It should be noted that Lalibela has just one bank, and there are no trustworthy foreign exchange facilities between Awassa and Moyale, or in the Konso and South Omo regions.

Money exchange in Ethiopia

3. Today money exchange rate in Ethiopia

Since the birr's depreciation in October 1992, the difference between the black market and the official today money exchange rate in Ethiopia has been minor - perhaps 5% at most - however, the black market might be beneficial in Addis Abeba when you need to change money after banking hours. It is strongly advised not to exchange currency in a black market since there is a great danger of theft and robbery and the fact that it is unlawful.

Even in an emergency, avoid changing money on the street at all costs. Instead, chat with someone at your hotel, a restaurant, or a souvenir store to arrange a deal in a controlled and safe atmosphere. Travelers' checks, as well as any other currency other than US dollars, are not accepted on the black market.

4. ATMs, Credit Cards, Debit Cards, and Travelers’ Check

ATMs

The Commercial Bank of Ethiopia (CBE), Dashen, and Wegagen banks all have ATMs in Addis and other cities throughout the country. The Dashen Bank alone has 48 ATMs in Addis (including one at Bole Airport and the Hilton Hotel) as well as regional centers such as Bahir Dar, Gondar, Mekele, Dire Dawa, Hawassa, and Harar - making a credit or debit card an excellent option for obtaining money while in Ethiopia. Visa and, to a lesser extent, MasterCard are accepted, though Visa is more dependable. Cash advances on most credit cards are subject to interest charges. It is occasionally feasible to avoid this by prepaying your credit card company so that you have a positive balance.

ATMs are also readily available in Addis Ababa and are becoming more common in larger cities. Before traveling, check with your bank to see if there are any transaction fees for using a foreign ATM. Most banks limit the maximum amount that one ATM card may withdraw each day to 3,000 - 4,000 birr.

Credit Cards

Credit cards have been widely accepted as a form of payment in recent years, but their use in Ethiopia remains limited. The high-end Addis Ababa hotels accept major credit cards for hotel and restaurant expenses. Most other top hotels in the city and around the nation accept Visa and, increasingly, MasterCard, however, there is typically a premium.

Credit cards are mainly accepted exclusively by Ethiopian Airlines, a few travel agencies, and international hotels such as the Sheraton, Hilton, and Radisson Blu. You should not use Credit cards in local eateries or gift stores.

Travelers’ check

Travelers' checks are still possible, especially because they may be returned if they are lost or stolen. Bring your receipts, though, since most banks require them; these should, of course, be carried separately from your checks. Most major currencies are accepted at Ethiopian banks; however, carrying US dollar travelers' checks is definitely a bright idea unless you have a compelling reason not to. More exotic currencies may cause problems in banks outside of Addis Ababa, as well as when paying for government hotels or other services with hard cash.

Banking hours

Banking hours are typically from 8:00 a.m. to 5:00 p.m. Monday through Friday and from 8:00 a.m. to 11:00 a.m. on Saturdays. In certain private banks, closing times may be one hour later. Most banks, including foreign exchange services, are open at lunchtime.

Travelers use cards in Ethiopia

5. Ethiopia travel money exchange tips for your trip

Don’t forget some Ethiopia travel money exchange tips so that your trip to Ethiopia will be more enjoyable:

• Bring enough money with you to Ethiopia, regardless of how much you anticipate spending, to avoid the cost and inconveniences of having money delivered to you. If you need money quickly, Western Union and other services can help.

• In Ethiopia, as in most other countries, you must receive payment in local currency and then convert it for hard cash before departing. Keep receipts for all exchange transactions so that you may convert your leftover birr to hard cash before you leave.

• There may be several occasions throughout your visit when folks will demand a gratuity. Some Ethiopians may express an interest in one or even request one. Tipping is not required in many instances, although there are a few exceptions. A gratuity is required of drivers and guides, especially if you hire them for the entire day or longer. The drivers and guides will work extremely hard to ensure that your trip runs as smoothly as possible. A gratuity is an excellent method to express your gratitude for their efforts. If you are dissatisfied, make it known to them or their employer.

• A service charge may be included at certain places, however, a little tip is usually customary. When you send someone to complete a work or bring you someplace, you should tip them a few birr for their assistance. Small favors usually necessitate a gratuity. Tipping taxi drivers is not required. Before boarding the cab, always agree on a charge for their service. If you are really delighted with their work, you may give them a tip, however, this is not expected.

Ethiopia travel money exchange tips for your trip

Ethiopian authorities have also lately tightened restrictions governing individual and corporate foreign currency holdings and outlawed all foreign money exchange in Ethiopia. So the most crucial item you should prepare is some basic knowledge as well as backup finances to ensure that your vacation is complete and flawless.

Ethiopia e-Visa Services is also delighted to support you from the outset of your travel; providing a seamless start can make you feel more comfortable and confident during the trip. Feel free to have a great time!