My Opinion | 131772 Views | Aug 14,2021
Feb 25 , 2025
A dollar value against the Birr exceeds 135 during an auction the Central Bank held today, offering 60 million dollars. Close to 27 banks have made their bid where the weighted average was 135.61 Br for a dollar.
The National Bank of Ethiopia (NBE) announced the results of the special foreign exchange auction held today, the second since monetary authorities floated the forex regime in early August last year. Today’s result reflects a weaker Birr than in the first when the average rate was 107.9 Br.
According to a statement the Central Bank issued following the auction, today’s auction “supports its ongoing efforts to manage foreign exchange liquidity and bolster economic stability.” They attributed an improved balance of payments to rising export revenues, steady remittances, and stronger capital inflows. They also credited a surge in gold deliveries for higher foreign currency reserves “beyond earlier expectations.”
However, the Birr remained exchanged at an average of 125.01 Br (buying rate) a dollar in the official market today.
My Opinion | 131772 Views | Aug 14,2021
My Opinion | 128157 Views | Aug 21,2021
My Opinion | 126102 Views | Sep 10,2021
My Opinion | 123723 Views | Aug 07,2021
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...
Jun 14 , 2025
Yet again, the Horn of Africa is bracing for trouble. A region already frayed by wars...
Loading your updates...