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Ethiopia's Dollar Auction: Birr Plunges to 158
17 Jun
Summary
- The weighted average bid reached 158 Birr per US dollar.
- USD 100 million was offered in the latest foreign currency auction.
- This auction saw a significant reduction in offered foreign currency.
As of June 17, 2026, the National Bank of Ethiopia concluded its latest foreign currency auction, with commercial banks bidding an average of 158 Birr for each US dollar. This auction marks the 23rd since August 2024, as part of the government's ongoing economic reforms and the IMF program.
A total of USD 100 million was made available, a substantial reduction from the USD 500 million offered in the preceding auction. Eight commercial banks participated, with the lowest successful bid set at 157.99 Birr per USD.
The next foreign currency auction is scheduled to take place on June 24, 2026, with USD 100 million slated for sale. This series of auctions is a key component of Ethiopia's economic restructuring efforts.
