
Fortune News | Aug 13,2022
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.
Fortune News | Aug 13,2022
Fortune News | Jun 18,2022
Fortune News | Feb 26,2022
Fortune News | Apr 09,2022
Agenda | Aug 04,2024
Radar | Jun 21,2025
Agenda | Jun 05,2021
Fortune News | May 08,2021
Radar | Nov 19,2022
Fortune News | Feb 08,2020
My Opinion | 132273 Views | Aug 14,2021
My Opinion | 128694 Views | Aug 21,2021
My Opinion | 126602 Views | Sep 10,2021
My Opinion | 124209 Views | Aug 07,2021
Jul 12 , 2025
Political leaders and their policy advisors often promise great leaps forward, yet th...
Jul 5 , 2025
Six years ago, Ethiopia was the darling of international liberal commentators. A year...
Jun 28 , 2025
Meseret Damtie, the assertive auditor general, has never been shy about naming names...
Jun 21 , 2025
A well-worn adage says, “Budget is not destiny, but it is direction.” Examining t...