The 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, more than double the amount offered, highlighting continued strong demand for foreign currency across the banking sector.
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The auction’s marginal rate, which served as the cut-off rate for successful bids, was set at 159.6299 Birr per U.S. dollar. Meanwhile, the weighted average rate of successful bids stood slightly higher at 159.9865 Birr/USD.
The highest accepted bid during the auction reached 160.9064 Birr/USD, while the lowest successful bid came in at 157.3005 Birr/USD.
A total of 30 banks participated in the auction, with 14 banks securing allocations.
The latest auction comes amid Ethiopia’s broader foreign exchange reform agenda aimed at improving market efficiency, enhancing liquidity, and gradually transitioning toward a more market-driven exchange rate system.
