Average Bid Registers At 158 Birr In Latest NBE Forex Auction

Birr Strengthens against Dollar – Ethiopian Monitor

The weighted average rate of the Ethiopian Birr (ETB) strengthened to 158 against the US dollar in the latest Central Bank’s special foreign currency exchange auction on Tuesday, the results released by the bank shows. The National Bank of Ethiopia (NBE) put $100 million dollars in the special forex auction – held a week after its initial schedule but got delayed “due to unforeseen technical issues”. Sixteen commercial banks participated, submit…

Average Bid Registers At 158 Birr In Latest NBE Forex Auction

The weighted average bid from sixteen commercial banks came in at 158 Birr per US dollar in the central bank’s latest auction, which took place today after last week’s postponement. The auction was the 23rd of its kind since August 2024, when the National Bank of Ethiopia (NBE) began selling off foreign currency to commercial banks as part of the government’s economic reforms and the ongoing IMF program. A total of USD 100 million was up for sal…