Currency Exchange Shortchanging
Street Exchanger Deception
In bustling markets like Merkato in Addis Ababa or roadside exchanges in other cities, vendors claim favorable rates but shortchange tourists by swapping bills or miscounting, often giving back 50-100 ETB less than owed on a 10,000 ETB transaction, exploiting the confusion of foreign currency like USD.
- Count ETB notes immediately after the exchange and in front of the vendor.
- Opt for bank exchanges at institutions like the Commercial Bank of Ethiopia, where rates are transparent and verified.
- Familiarize yourself with current ETB rates via apps like XE, as street rates are often inflated by 10-20%.
Fake Banknote Scams
Tourists exchanging money or receiving change in areas like hotel lobbies or bus stations are given counterfeit ETB notes, which look genuine but fail when used later, with scammers targeting larger denominations like 100 ETB bills during transactions.
- Check notes for security features like watermarks and raised text before accepting.
- Use ATMs from major banks like Dashen Bank for withdrawals, which dispense authentic currency.
- Report suspicious notes to local police immediately, as counterfeiting is a known issue in urban centers.
Souvenir Overpricing
Fake Ethiopian Cross Sales
In craft markets nationwide, vendors sell replicas of Ethiopian crosses as authentic artifacts, inflating prices to 500-2000 ETB for items worth 100-500 ETB, pressuring tourists with stories of cultural significance to avoid bargaining.
- Verify authenticity through certified shops or museums like the National Museum in Addis Ababa.
- Haggle firmly but politely, starting at half the quoted price, as bargaining is a cultural norm.
- Purchase from government-regulated stalls in tourist areas, which often display official tags.