Radar | Mar 09,2019
Aug 6 , 2025
The Central Bank has posted the Birr to a record low in its latest foreign currency auction, allocating 150 million dollars, the highest amount since forex auctions began in August this year. No less than 28 banks bid at a weighted average rate of 138.25 Br to a dollar, the weakest rate recorded in the National Bank of Ethiopia’s (NBE) bi-monthly auctions.
Held today, August, 5, 2025, the new rate marks a notable depreciation from 136.63 Br at the previous auction on June 19, and from the 133 Br level in mid-May, extending a downward trend that analysts link to soaring import bills and elevated commodities prices, including fuel and fertiliser.
The continued weakening of the Birr raises concerns about the macroeconomic stability, particularly as inflationary risks mount and the country’s external debt-servicing obligations loom large.
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