National Bank of Ethiopia FX Auction No. 20 Draws Strong Demand as Bids Reach USD 177.12 Million
Addis Ababa, Ethiopia – March 03, 2026
The National Bank of Ethiopia (NBE) has announced the results of its Foreign Exchange Auction No. 20, with total bids significantly exceeding the amount offered.
Under the central bank’s biweekly auction program, USD 70 million was made available to participating banks. Demand, however, reached USD 177.12 million, making the auction oversubscribed by more than 2.5 times the offered amount.
Key Auction Results
- Total Amount Offered: USD 70 million
- Total Bids Received: USD 177.12 million
- Total Amount Allotted: USD 70 million
- Participating Banks: 20
- Successful Banks: 9
The strong subscription level signals continued pressure on foreign exchange liquidity within the banking system.
Exchange Rate Outcomes
The auction produced the following rate results:
- Marginal (Cut-Off) Rate: 155.8800 Birr/USD
- Weighted Average Rate (Successful Bids): 155.9403 Birr/USD
- Highest Bid Rate: 156.0500 Birr/USD
- Lowest Bid Rate: 153.8805 Birr/USD
The weighted average rate settled slightly above the marginal rate, indicating tight competition among successful bidders. The spread between the highest and lowest bids reflects active price discovery within the controlled auction framework.
Market Implication
With only 9 out of 20 participating banks securing allocations, the results underline persistent demand for hard currency in Ethiopia’s banking sector. The biweekly foreign exchange auction mechanism remains a central policy tool for managing FX distribution and supporting macroeconomic stability objectives.
The central bank stated that the next foreign exchange auction will be conducted according to its regular schedule.
Source: National Bank of Ethiopia – Foreign Exchange Auction No. 20 Results