Average bid registers 160 Birr in latest Central Bank Forex Auction
The weighted average bid from 20 commercial banks came in at 160.53 birr per US dollar in the central bank’s latest auction, which took place yesterday. The auction was the 28th of its kind since August 2024, when the National Bank of Ethiopia (NBE) began selling off foreign currency to commercial banks as part of […]
Black News 
The weighted average bid from 20 commercial banks came in at 160.53 birr per US dollar in the central bank’s latest auction, which took place yesterday.
The auction was the 28th 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 125 million was up for sale, with all Participating commercial banks making successful bids. The lowest of these bids registered at 158.35 Birr per USD. The highest bid came in at 160.75 birr per USD. The auction was undersubscribed by USD five million.
This latest auction follows the August 26th round, which saw participation from only five commercial banks, with just two successful bids. Furthermore, the auction was oversubscribed by USD 50 million.
The NBE said that the next auction will be held in line with the announced schedule.
