The National Bank of Ethiopia (NBE) announced the results of its special foreign exchange auction today, February 25, revealing an average exchange rate of 135.6185 Birr per US dollar.

The auction saw participation from 27 banks, which the NBE acknowledged as a strong turnout. The central bank also indicated its readiness to conduct additional foreign exchange auctions as needed, ensuring consistency with price stability and external stability objectives.

This foreign exchange auction is part of ongoing efforts to stabilize the financial market and improve foreign currency availability.

Notably, this is the second foreign exchange auction since the implementation of the macroeconomic reforms, which began on July 22 2024. In the initial round, the NBE sold US dollars at an average rate of 107.9 Birr, with participation from 27 banks.