Ethiopia’s FX Auction Demand Drops by $75.8 Million in Latest Sale

June 25, 2026
By Mintesinot Nigussie

The National Bank of Ethiopia (NBE) has allocated 100 million US dollars to commercial banks through its latest foreign exchange auction, as the total value of bids submitted by banks fell by 75.8 million US dollars compared with the previous round.

The central bank said it conducted its 24th foreign exchange auction on June 24, 2026, attracting bids worth 160.5 million US dollars from 14 participating banks. Nine banks were successful in securing foreign currency.

The marginal and weighted average exchange rates for successful bids were both set at 157 birr per US dollar. The highest successful bid was recorded at 157 birr per US dollar, while the lowest was 152 birr per US dollar.

The latest auction recorded lower demand compared with the previous round held on June 16, 2026, when 16 banks submitted bids amounting to 236.3 million US dollars. During that auction, eight banks secured foreign currency at a weighted average exchange rate of 158 birr per US dollar.

The decline in total bids came as the central bank continued its foreign exchange auction mechanism, which provides banks with access to hard currency through a formal allocation process.

The auction system is part of NBE’s efforts to improve the functioning of the foreign exchange market by increasing transparency in currency allocation and supporting access to foreign currency for businesses and other market participants.

The June 24 auction marks the 24th foreign exchange auction conducted by the central bank. Commercial banks continue to use the platform as one of the channels for meeting foreign currency demand from importers and customers requiring international payments.

Source: FSX Business News