Just landed - wondering what gives the better rate in Ethiopia: ATM withdrawal or airport exchange counter?
For budget travelers in Ethiopia, withdraw from main bank ATMs in Addis Ababa instead of airport counters. Fees at Commercial Bank ATMs are fair, and exchange rates better. The airport counters are oversimplified money changers with big markups.
Don’t rely on the airport exchange in Ethiopia for larger amounts. The Commercial Bank ATMs are foreign-card friendly with decent fees. I grabbed enough cash at the ATM after arrival and avoided the airport desk, which has poor rates and hidden fees.
I found that airport exchange rates in Ethiopia are marked up. Commercial Bank of Ethiopia ATMs downtown gave me a better deal using my Visa card. Fees add up, but overall, ATMs still beat the airport for big withdrawals.
In Addis Ababa, Commercial Bank of Ethiopia ATMs are the best bet for foreign cards - I got much better rates than at the Bole Airport exchange desks. Airport counters had awful exchange fees. The ATM fees were small enough, and you get closer to the real rate.