Addis Ababa - The National Bank of Ethiopia (NBE) has officially announced the results of its 12th Foreign Exchange Auction, conducted on Tuesday as part of the country’s ongoing foreign exchange market reforms.
According to the central bank, the weighted average exchange rate of all successful bids stood at Birr 154.7747 per US dollar. A total of 13 commercial banks successfully secured foreign currency allocations through the auction.
The NBE stated that the auction was carried out in line with its previously announced schedule, reaffirming its commitment to a more market-oriented foreign exchange allocation mechanism aimed at enhancing transparency and efficiency in the banking sector.
The central bank further announced that the next foreign exchange auction will be held in two weeks, maintaining the regular auction cycle introduced under the current reform framework.
Ethiopia has been implementing a series of monetary and foreign exchange policy adjustments to address persistent forex shortages, stabilize the macroeconomic environment, and improve access to foreign currency for the productive sectors of the economy.
