Ethiopia’s foreign exchange auction recorded stronger demand in October, with bids exceeding the amount offered by the National Bank of Ethiopia (NBE), reversing the undersubscription recorded in the previous auction in September.
The central bank allocated 140 million US dollars in its 30th foreign exchange auction, held on October 13, 2026, and received bids totaling 152.09 million dollars, according to the results published by the NBE.
The total bids exceeded the allocated amount by 12.09 million dollars, indicating increased demand for foreign currency among participating banks.
The latest auction attracted 29 banks, of which 26 secured foreign exchange allocations. This compared with the September 23 auction, when 27 banks participated and all received allocations.
In the previous auction, the central bank offered 125 million dollars but received bids worth only 123.49 million dollars, leaving the auction undersubscribed by 1.51 million dollars.
The October allocation represented an increase of 15 million dollars, or 12 percent, compared with the September auction. Meanwhile, the total value of bids rose by 28.60 million dollars, reflecting a notable shift in demand between the two rounds.
The NBE reported that the marginal exchange rate, also known as the cut-off rate, reached 158.1724 birr per dollar in the latest auction, compared with 158.0715 birr in September.
The weighted average rate of successful bids stood at 160.1072 birr per dollar, slightly lower than the 160.2297 birr recorded in the previous auction.
The highest bid in October reached 160.9878 birr per dollar, while the lowest stood at 153 birr. In September, the highest bid was 160.8869 birr per dollar, and the lowest was 158.0715 birr.
