The National Bank of Ethiopia (NBE) said on 6 October that it will sell $840 million at foreign exchange auctions in the second quarter of the 2026/27 fiscal year, up from $500 million in the first. It will hold six fortnightly auctions of $140 million between 13 October and 22 December, against $125 million per round before. Banks bid less than the amount on offer at both September auctions, and the birr cleared at 160.23 to the dollar on 23 September, against about 57 before the currency was floated in July 2024. A larger, regular dollar supply gives importers more predictable access to foreign currency and should narrow the gap with the parallel market.
Sources
- Reuters via TradingView: https://www.tradingview.com/news/reuters.com,2026:newsml_S8N42V02X:0-ethiopia-central-bank-allocates-840-mln-for-forex-auctions-for-q2-of-2026-27-fiscal-year/
- Agence Ecofin: https://www.ecofinagency.com/news-finances/0610-59503-ethiopia-steps-up-regular-fx-auctions-amid-softer-september-bidding
- Capital Ethiopia: https://capitalethiopia.com/2026/10/06/nbe-pumps-extra-340m-into-banking-system-lifting-q2-fx-auctions-by-68/