By: Getahun Tsegaye
Staff Writer
Addis Ababa, Ethiopia — The National Bank of Ethiopia (NBE) has announced that its next bi-weekly foreign exchange auction will take place on Wednesday, May 7, 2025. The central bank is offering $60 million as part of its ongoing efforts to manage price levels and support external economic stability.
Commercial banks are invited to participate in the auction, following the guidelines issued by the NBE.
This move follows the previous foreign exchange auction held on April 16, in which the central bank made $70 million available. According to results announced on April 17, the weighted average exchange rate for successful bids stood at 131.4961 Ethiopian Birr per U.S. dollar. A total of 26 banks received allocations during that round, with approximately 96% of total forex demand met.
The bi-weekly auctions are part of the NBE’s broader monetary strategy to improve transparency and efficiency in Ethiopia’s foreign exchange market.
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