Aug 16 , 2026
The National Bank of Ethiopia (NBE) sold the US dollar at a record rate of 161.7994 Br during its August 12 foreign exchange auction, after commercial banks submitted bids for 470.17 million dollars against the 125 million dollars on offer. The first auction of the 2026/27 fiscal year drew nearly three times the demand recorded in June. Banks had sought 160.5 million dollars against an allocation of 100 million dollars in that auction. The NBE plans to supply 500 million dollars through four auctions during the quarter. Following the August 12 sale, three further auctions, each offering 125 million dollars, are scheduled for August 26, September 9 and September 23. The programme follows a quarter in which the central bank sold 200 million dollars through two auctions. Between January and May, it had relied on three larger interventions of 500 million dollars each.
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