National Bank Sells USD at 135 Birr in Special Foreign Currency Auction

The National Bank of Ethiopia sold one US dollar for an average of 135 birr in a special foreign currency auction, with 27 banks participating. Further auctions will be held as necessary to maintain market stability.

Tue February 25, 2025 | 3 Minutes

National Bank Sells One US Dollar for an Average of 135 Birr in Foreign Currency Auction

The National Bank of Ethiopia announced that one US dollar was sold for an average of 135 birr in a special foreign currency auction.

The National Bank conducted a special foreign currency auction today, selling 60 million US dollars, and confirmed the completion of the auction.

Based on the results of this special auction, the average exchange rate for one US dollar was disclosed to be 135.6185 birr.

The National Bank stated that 27 banks participated in the auction, highlighting the high level of engagement in the foreign currency auction.

The bank also announced that it will conduct additional auctions as needed, in line with price stability and foreign exchange market conditions.

Sources

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