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Banking & FinanceThe National Bank of Ethiopia (NBE) set the birr at 155.12 per US dollar in its latest foreign exchange auction, as demand from commercial banks far outstripped supply. In Auction No. 18, the central bank made US$70 million available to the market. However, total bids reached US$145.31 million—more than double the amount on offer, highlighting
Banking & FinanceThe National Bank of Ethiopia (NBE) has unveiled sweeping amendments to the country’s foreign exchange framework, introducing forward exchange trading, granting full foreign currency retention for service exporters, and significantly reducing administrative approval requirements in what marks one of the most consequential steps in Ethiopia’s ongoing FX reform. Under Directive No. FXD/04/2026, banks are now
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 17th Foreign Exchange Auction, with the market clearing at a marginal rate of 155.05 birr per US dollar, marking a modest depreciation from the 154.82 birr per US dollar recorded in the previous auction. The central bank allotted USD 70 million out of
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 500 million special foreign exchange auction, marking the largest single FX injection since the central bank began auctioning dollars under its post-reform framework. This move signals an escalation in NBE’s efforts to combat persistent FX shortages amid high import demands. The auction, set for Tuesday,
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) today launched CBE Connect, a new digital platform designed to integrate multiple financial services into a single application and enable direct transfers from global banks to Ethiopian fintech wallets. Developed in partnership with local fintech firm StarPay Financial Technologies (Eaglelion Technology Plc), CBE Connect brings together more than seven
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 15th Foreign Exchange Auction, held on Tuesday, as part of ongoing efforts to manage liquidity and stabilize the foreign exchange market. According to the central bank, USD 70 million was allotted to commercial banks out of a total bid amount of USD 94.7
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange Auction No. 14, held today in Addis Ababa. According to the central bank, the weighted average exchange rate of successful bids stood at Birr 154.8729 per US dollar, reflecting prevailing market conditions under Ethiopia’s ongoing foreign exchange reform framework. A total of
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 150 million special end-of-year foreign exchange auction, marking the first time such a large FX amount has been released since October 14. The auction, scheduled for Saturday, December 27, 2025, comes in addition to NBE’s regular bi-weekly FX auctions and is aligned with the central
Banking & FinanceThe Ethiopian Birr has continued its rapid slide against the US Dollar in the National Bank of Ethiopia’s (NBE) foreign exchange auction, marking one of the most significant adjustments since the platform was introduced to support market stability two months ago. In the 11th round of the forex auction held today, the average exchange rate
Banking & FinanceThe National Bank of Ethiopia (NBE) has released its official foreign exchange auction schedule for the remainder of the fiscal year, unveiling a total allocation of USD 520 million for upcoming auctions. According to the statement, USD 420 million has been designated for the third quarter of FY 2025/26, while an additional USD 100 million
Banking & FinanceEthiopian authorities have arrested more than 100 people and frozen over 500 bank accounts in a sweeping operation targeting illegal foreign exchange and cryptocurrency transactions, the National Intelligence and Security Service (NISS) said on Friday. The coordinated operation, conducted with the Financial Security Service, the Ethiopian Federal Police, and regional security agencies, comes amid the
Banking & FinanceLooks like the National Bank of Ethiopia (NBE) is done playing nice with the underground money movers. Governor Eyob Tekalign (PhD) made it clear: if you’re running illegal hawala transfers, it’s time to either go legit or go quiet. The central bank has been chatting with both foreign hawala operators and commercial banks — kind
