• National Bank of Ethiopia’s 17th FX auction cleared at 155.05 birr per USD. 

• NBE allotted USD 70 million to banks from total bids of USD 127.25 million. 

• Weighted average rate of successful bids was 155.0506 birr per USD. 

• Accepted bid rates ranged from 154.8141 to 155.0519 birr per USD. 

• 19 commercial banks participated; 8 secured foreign exchange. 

• Clearing rate was slightly weaker than previous 154.82 birr per USD auction. 

• Next FX auction scheduled under NBE’s biweekly calendar. 

Why it matters?

The  successive FX auctions set the official dollar price for commercial bank allocations, affecting import financing costs and formal FX market liquidity. It signals ongoing birr exchange rate adjustments under Ethiopia’s auction-based FX management.

• National Bank of Ethiopia announced a $70 million foreign exchange auction on Tuesday, February 3. 

• Auction follows an oversubscribed previous FX sale. 

• Commercial banks will participate in the FX auction. 

• Bidding window schedule for banks was specified. 

• Auction is part of the central bank’s continuing hard currency allocation operations. 

why it matters?
The planned $70 million FX auction reflects ongoing National Bank of Ethiopia efforts to supply hard currency and address high demand in Ethiopia’s foreign exchange market.