The National Bank of Ethiopia (NBE) has postponed its latest foreign-exchange auction, citing "unforeseen technical issues."
The central bank had announced on May 27 that it would conduct two foreign-exchange auctions of USD 100 million each during the fourth quarter of the fiscal year. The amount marked a sharp reduction from the previous auction, in which the NBE offered USD 500 million.
The next auction, valued at USD 100 million, had been scheduled for June 24, 2026.
Demand for foreign currency has remained strong. In the previous auction, commercial banks submitted bids totaling about USD 1 billion, double the amount offered by the central bank, as the Birr continued to weaken against the US Dollar.
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The weighted average exchange rate for successful bids in that auction was 159.98 Bitt per dollar. The highest successful bid was 160.90 Birr per dollar, while the lowest was 157.30 Birr. Fourteen of the 30 participating commercial banks secured foreign-currency allocations.
