National Bank of Ethiopia to Auction $140 Million Tomorrow

The National Bank of Ethiopia (NBE) has announced that it will conduct its 31st round of foreign exchange auction tomorrow, Tuesday, Tikimt 26, 2019 E.C. The bank is putting $140 million up for auction to be distributed among eligible banks. Previously, in the 30th round of auctions held on Tikimt 13, 2019, the average exchange rate reached 160.10 Birr per dollar, with 26 banks successfully securing foreign currency. The NBE continues to utilize these regular auctions as part of its monetary strategy to manage foreign exchange liquidity and address market demand.