By: Getahun Tsegaye
Staff Reporter
Addis Ababa, Ethiopia — The National Bank of Ethiopia (NBE) has released the outcome of its fifth foreign exchange auction conducted today.
According to the central bank, the weighted average exchange rate for all successful bids was Birr 132.9643 per U.S. dollar. A total of 16 commercial banks received allocations during the auction.
As part of ongoing efforts to stabilize inflation and support Ethiopia’s external economic position, the NBE had offered $60 million in this round, a move previously reported by Borkena.
Commercial banks participated in the auction in accordance with existing NBE guidelines.
The next auction is scheduled to take place in two weeks, with further details to be announced in due course.
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