The National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange (FX) Auction No. 21, allocating $70 million to commercial banks. The total demand far exceeded the allotment, with bids totaling $241.52 million.
The marginal rate for the auction was set at 157.0183 Birr/USD, while the weighted average rate of successful bids stood at 157.4654 Birr/USD. Bid rates ranged from 154.5000 to 158.5000 Birr/USD.
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A total of 30 banks participated, but only 9 banks successfully secured foreign exchange allocations. The NBE confirmed that the next FX auction will proceed according to the previously announced schedule.
For comparison, the previous FX Auction No. 20 also allocated $70 million, with demand at $177.12 million. The birr had settled at 155.88 per USD (marginal rate), and the weighted average rate was 155.94 Birr/USD.
