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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
National 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
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
