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ForexAll 20 participating banks secure foreign currency as auction remains undersubscribed by USD 5 million The National Bank of Ethiopia (NBE) allocated USD 120 million to commercial banks in its 28th Foreign Exchange Auction held on September 9, 2026, with the auction receiving bids totaling USD 120 million against an allocated amount of USD 125
EconomyThe National Bank of Ethiopia (NBE) has allocated USD 125 million in its 27th foreign exchange auction held on August 26, 2026, as banks competed for foreign currency amid continued efforts to strengthen the country’s foreign exchange market. The auction attracted USD 170.51 million in total bids, with five banks participating. Only two banks were
The National Bank of Ethiopia (NBE) allotted USD 500 million at a Special Foreign Exchange Auction held on Thursday, clearing the market at a marginal rate of 160.2121 Birr per US dollar, 0.79 birr below the cut-off rate recorded at the regular auction eight days earlier. The intervention was four times the size of Foreign
Banking & FinanceThe National Bank of Ethiopia’s (NBE) 25th foreign exchange auction points to a sharp increase in demand for foreign currency, with banks submitting USD 470.17 million in bids against an allocation of USD 125 million on August 12, 2026. The latest auction represents a significant shift from the 24th auction held on June 24. Total
Banking & FinanceThe National Bank of Ethiopia (NBE) has released the results of Foreign Exchange Auction No. 24, conducted on June 24, 2026, with USD 100 million allocated to participating banks. The auction cleared at a marginal rate of 157 birr per U.S. dollar, while the weighted average rate of successful bids also stood at 157 birr/USD.
EconomyThe National Bank of Ethiopia has announced the results of its latest Special Foreign Exchange Auction held on May 19, 2026, allocating USD 500 million to participating banks as part of ongoing efforts to stabilize the country’s foreign exchange market. According to the central bank, total bids submitted by commercial banks reached USD 1.06 billion,
Banking & FinanceDestta, a U.S.-registered fintech company, has officially launched the beta version of its global remittance platform in Ethiopia, positioning itself to capture a growing share of diaspora inflows through formal financial channels. Speaking at the launch event held at Hyatt Regency Addis Ababa, Founder and CEO Dawit Berhanu emphasized the platform’s broad transaction capability, enabling
Banking & FinanceThe 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
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced that it will conduct a $70 million foreign exchange auction on Tuesday, March 17, 2026, as part of its ongoing efforts to stabilize the foreign exchange market. In a notice issued on March 16 in Addis Ababa, the central bank said the auction is part of its
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange Auction No. 20, allotting USD 70 million to commercial banks amid continued strong demand for hard currency. The auction attracted USD 177.12 million in total bids, more than double the amount made available, signaling persistent foreign exchange pressures in the banking system.
Crypto NewsThe National Bank of Ethiopia (NBE) has issued a public notice stating that peer-to-peer (P2P) cryptocurrency transactions denominated in Ethiopian Birr are prohibited unless expressly authorized by the Bank. In its statement released on Thursday, the central bank clarified that the use of Birr-paired P2P arrangements on trading platforms, exchanges, or similar services is not
Banking & FinanceNational Bank of Ethiopia has announced the results of its second $500 million special foreign exchange auction, with $455.29 million allotted to participating banks. The special auction, held on February 21, 2026, drew participation from 30 commercial banks. Despite the sizeable offering, the auction was undersubscribed by $44.71 million, indicating that total bids fell short
