The 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 successful in securing foreign currency.

The marginal (cut-off) exchange rate was set at 160.2070 birr per U.S. dollar, which was also the weighted average rate of successful bids.

The highest bid rate submitted by participating banks was 160.2071 birr per dollar, while the lowest bid rate stood at 160.1833 birr per dollar.

According to the NBE, the auction results indicate that demand for foreign currency exceeded the amount offered, with total bids surpassing the allocated amount by USD 45.51 million.

The latest auction forms part of the central bank’s ongoing use of foreign exchange auctions to facilitate access to hard currency and support the development of a more market-oriented foreign exchange system.

Foreign Exchange Auction No. 27, Key Figures

  • Amount allocated: USD 125 million
  • Total bids: USD 170.51 million
  • Cut-off rate: 160.2070 birr/USD
  • Weighted average successful bid: 160.2070 birr/USD
  • Highest bid rate: 160.2071 birr/USD
  • Lowest bid rate: 160.1833 birr/USD
  • Participating banks: 5
  • Successful banks: 2