Ethiopian Banks Forex Buying and Selling Spreads

Ethiopian banks have maintained their selling prices for foreign currency at approximately two percent above their buying prices. Market data indicates that the spread ranges from 3.21 Birr at the Commercial Bank of Ethiopia (CBE) to 3.3 Birr at Oromia Bank. Over the past week, the average rate shifted by about 15 cents, while the disparity between the buying rates offered by different banks reached as high as 4.5 Birr. The upcoming foreign exchange auction, scheduled for October 27, is expected to provide further insight into current market demand.