National Bank of Ethiopia to Conduct 2nd FX Auction on Feb 25

National Bank of Ethiopia today announced to conduct the second FX auction on Tuesday February 25, 2025. Sixty million US Dollars will be sold to banks.

In July last year, Ethiopian government introduced macro economic reforms. It allowed banks and private bureaus to buy and sell foreign currency. In August 2024, National Bank of Ethiopia held first FX auction which attracted 27 of the 31 commercial banks in the country with successful bids of 107.9 birr per US dollar.

Interested banks have been told by NBE to submit their bids in the time frame and manner specified below:

FX Auction Date: Tuesday, February 25, 2025

Email submission: [email protected]

Bid Submission Period: 10:00 AM – 12:00 NOON

Bid Results Announcement: 3:00 PM

Settlement: End of day, February 25, 2025

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