Government adopts proclamation regarding foreign currency

The Eritrean government has declared the adoption of a proclamation regarding foreign currency which would become effective as of today.

Asmara, 20 February 2013 – The Eritrean government has declared the adoption of a proclamation regarding foreign currency which would become effective as of today.

The announcement titled Proclamation No. 173/2013 pertains to the opening of foreign currency deposit accounts, domestic commercial transactions and/or contracts, currency remittance and exchange, as well as the declaration of currency of travelers arriving into and departing from Eritrea.

Accordingly, Legal Notice No. 101/2005 and the one lately adopted i.e. No. 102/2005 have now been replaced by the latest proclamation.