The National Bank of Ethiopia (NBE) has announced the results of its fifth foreign exchange auction. According to the official statement, the weighted average rate of all successful bids reached 132.9643 Birr per US Dollar.
A total of $60 million was made available through the auction, with 16 banks receiving their requested foreign exchange allocations.
This marks a slight increase in the exchange rate compared to the previous auction, which was held two weeks ago. In that round, the NBE reported a weighted average rate of 131.4961 Birr per USD, with $70 million offered and 26 banks participating. At the time, 96 percent of total foreign exchange demand was met.
The NBE confirmed that the next foreign exchange auction will be held in two weeks, with the exact date and time to be announced prior to the auction.
