Radar |
Aug 7 , 2024
The National Bank of Ethiopia (NBE) concluded its special foreign exchange (FX) auction today with a weighted average rate of 107.9 Br for Dollar, recieving bids from 27 banks.
In a statement he issued today, Governor Mamo Mihretu stated the effort to narrow the gap between official and parallel market rates, marking a critical step towards exchange rate stability. This development is seen as a cornerstone of the NBE's broader macroeconomic reforms targeting volatile foreign exchange transactions into the formal banking sector.
The Governor also noted the encouraging rise in FX transaction volumes, with more banks facilitating foreign exchange access for their customers.
The trend is anticipated to continue, supporting import activities and enhancing foreign exchange liquidity.
However, the central bank was reserved from disclosing how much forex it has availed for the auction.
Radar |
Editorial | Jan 28,2023
Delicate Number | Aug 03,2024
Radar | May 24,2025
Radar | Feb 17,2024
In-Picture | Jun 22,2024
Radar | Dec 04,2022
Fortune News | Dec 10,2022
Radar | Jun 11,2024
Radar | Apr 01,2024
Photo Gallery | 154858 Views | May 06,2019
Photo Gallery | 145128 Views | Apr 26,2019
My Opinion | 135100 Views | Aug 14,2021
Photo Gallery | 133556 Views | Oct 06,2021
Sep 13 , 2025
At its launch in Nairobi two years ago, the Africa Climate Summit was billed as the f...
Sep 6 , 2025
The dawn of a new year is more than a simple turning of the calendar. It is a moment...
Aug 30 , 2025
For Germans, Otto von Bismarck is first remembered as the architect of a unified nati...
Aug 23 , 2025
Banks have a new obsession. After decades chasing deposits and, more recently, digita...
Loading your updates...