The National Bank of Ethiopia (NBE) has scheduled its fourth foreign exchange auction for Thursday, April 17, 2025, offering $70 million to participating banks. This follows NBE’s commitment to regular auctions, first announced on July 29, 2024, aiming to ensure price stability and meet foreign exchange objectives.
Bids for the upcoming auction will be accepted via email at [email protected] from 10:00 AM to 12:00 PM on April 17, with results announced at 4:00 PM the same day. Settlement will conclude by the end of April 17, 2025. In a previous auction on April 9, 2025, the birr traded at 131.71 per USD, reflecting ongoing market dynamics.
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NBE’s consistent auction schedule is part of its broader strategy to stabilize Ethiopia’s foreign exchange market and support the country’s economic framework. Interested banks are invited to submit bids within the specified guidelines.
