NBE's First Q2 FX Auction Is Oversubscribed. Is the Birr Holding Up?
According to Banks in Ethiopia, National Bank of Ethiopia’s NBE first Q2 FX auction drew $152.09 million in bids against $140 million offered, as the birr edged stronger to 160.1072 per dollar. NBE’s First Q2 FX Auction Is Oversubscribed. Ethiopia’s foreign exchange market opened the second quarter of the 2026/27 fiscal year with renewed excess demand, as commercial banks bid 152.09 million US dollars against 140 million US dollars offered by the National Bank of Ethiopia (NBE).
What happened
National Bank of Ethiopia’s NBE first Q2 FX auction drew $152.09 million in bids against $140 million offered, as the birr edged stronger to 160.1072 per dollar. NBE’s First Q2 FX Auction Is Oversubscribed. Ethiopia’s foreign exchange market opened the second quarter of the 2026/27 fiscal year with renewed excess demand, as commercial banks bid 152.09 million US dollars against 140 million US dollars offered by the National Bank of Ethiopia (NBE).
Why it matters
No verified analysis is available for this report.
What to watch
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