The 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 the sustained appetite for hard currency across Ethiopia’s banking sector.
Related articles
The marginal rate, which determines the cut-off for successful bids, was fixed at 155.1200 birr per dollar, while the weighted average rate settled slightly higher at 155.1223 birr. Bidding activity remained closely aligned, with accepted bids ranging from 155.1010 birr to 155.1299 birr per dollar.
Out of 31 participating banks, 21 secured allocations in the auction.
The exercise forms part of the NBE’s ongoing efforts to distribute limited foreign exchange through competitive, market-based mechanisms. Despite reform measures, Ethiopia continues to grapple with structural FX shortages driven by strong import demand, a narrow export base, and ongoing external financing pressures.
