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Banking & FinanceThe National Bank of Ethiopia (NBE) has released the results of Foreign Exchange Auction No. 24, conducted on June 24, 2026, with USD 100 million allocated to participating banks. The auction cleared at a marginal rate of 157 birr per U.S. dollar, while the weighted average rate of successful bids also stood at 157 birr/USD.
EconomyThe National Bank of Ethiopia has announced the results of its latest Special Foreign Exchange Auction held on May 19, 2026, allocating USD 500 million to participating banks as part of ongoing efforts to stabilize the country’s foreign exchange market. According to the central bank, total bids submitted by commercial banks reached USD 1.06 billion,
Destta, a U.S.-registered fintech company, has officially launched the beta version of its global remittance platform in Ethiopia, positioning itself to capture a growing share of diaspora inflows through formal financial channels. Speaking at the launch event held at Hyatt Regency Addis Ababa, Founder and CEO Dawit Berhanu emphasized the platform’s broad transaction capability, enabling
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange (FX) Auction No. 21, allocating $70 million to commercial banks. The total demand far exceeded the allotment, with bids totaling $241.52 million. The marginal rate for the auction was set at 157.0183 Birr/USD, while the weighted average rate of successful bids stood
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced that it will conduct a $70 million foreign exchange auction on Tuesday, March 17, 2026, as part of its ongoing efforts to stabilize the foreign exchange market. In a notice issued on March 16 in Addis Ababa, the central bank said the auction is part of its
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange Auction No. 20, allotting USD 70 million to commercial banks amid continued strong demand for hard currency. The auction attracted USD 177.12 million in total bids, more than double the amount made available, signaling persistent foreign exchange pressures in the banking system.
Crypto NewsThe National Bank of Ethiopia (NBE) has issued a public notice stating that peer-to-peer (P2P) cryptocurrency transactions denominated in Ethiopian Birr are prohibited unless expressly authorized by the Bank. In its statement released on Thursday, the central bank clarified that the use of Birr-paired P2P arrangements on trading platforms, exchanges, or similar services is not
Banking & FinanceNational Bank of Ethiopia has announced the results of its second $500 million special foreign exchange auction, with $455.29 million allotted to participating banks. The special auction, held on February 21, 2026, drew participation from 30 commercial banks. Despite the sizeable offering, the auction was undersubscribed by $44.71 million, indicating that total bids fell short
Banking & FinanceThe National Bank of Ethiopia (NBE) set the birr at 155.12 per US dollar in its latest foreign exchange auction, as demand from commercial banks far outstripped supply. In Auction No. 18, the central bank made US$70 million available to the market. However, total bids reached US$145.31 million—more than double the amount on offer, highlighting
Banking & FinanceThe National Bank of Ethiopia (NBE) has unveiled sweeping amendments to the country’s foreign exchange framework, introducing forward exchange trading, granting full foreign currency retention for service exporters, and significantly reducing administrative approval requirements in what marks one of the most consequential steps in Ethiopia’s ongoing FX reform. Under Directive No. FXD/04/2026, banks are now
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 17th Foreign Exchange Auction, with the market clearing at a marginal rate of 155.05 birr per US dollar, marking a modest depreciation from the 154.82 birr per US dollar recorded in the previous auction. The central bank allotted USD 70 million out of
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 500 million special foreign exchange auction, marking the largest single FX injection since the central bank began auctioning dollars under its post-reform framework. This move signals an escalation in NBE’s efforts to combat persistent FX shortages amid high import demands. The auction, set for Tuesday,
