Ethiopia’s Central Bank Offers $125m in Latest FX Auction

By Mintesinot Nigussie  |  August 27, 2026

Ethiopia’s central bank offered 125 million US dollars in its latest foreign exchange auction on Wednesday, with the dollar priced at 160.2070 birr at the cut-off rate.

The National Bank of Ethiopia said the 27th foreign exchange auction attracted bids worth 170.51 million US dollars, with five banks participating. Two banks were successful.

The 125 million US dollars offered was fully allotted, while the weighted average rate of successful bids was also 160.2070 birr per US dollar.

The highest successful bid was 160.2071 birr per dollar, while the lowest was 160.1833 birr.

The auction comes as the central bank continues to use foreign exchange auctions as part of its shift towards a more market-based currency system. The auctions have become a mechanism for allocating foreign currency through the banking system following the exchange-rate reforms introduced in July 2024.

The latest auction marks the 27th since the National Bank began the current auction programme. The results indicate that demand for foreign currency remained above the amount offered, with total bids exceeding available foreign exchange by 45.51 million US dollars.

Source: FSX Business News