The National Bank of Ethiopia (NBE) has announced the results of its latest foreign exchange auction held today. According to the bank, the weighted average exchange rate for all successful bids stood at Birr 131.7095 per US Dollar.
A total of 12 banks were allocated foreign exchange through the auction process. The NBE, which has been implementing periodic auctions to manage forex supply and demand, confirmed that the next foreign exchange auction will be held in two weeks. The exact date and time will be announced one day prior to the event.
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The auction system is part of Ethiopia’s ongoing economic reforms, aimed at improving transparency and efficiency in foreign currency allocation.
