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The National Bank of Ethiopia (NBE) conducted a special foreign exchange auction on August 7, 2024, as part of its efforts to bridge the gap between official and parallel exchange rates. During the auction, 27 banks participated, and the successful banks were sold US dollars at their bid prices, with no single bank receiving more than 20% of the total funds available. The auction concluded with a weighted average exchange rate of Birr 107.9 per USD, which will serve as the daily exchange rate for the following day.
Ethiopia Announces Launch of Forex Auction Sale Days After Birr Float - #NewsBytes https://t.co/qqF5XWbSsH
The naira strengthened slightly in the official market after the Central Bank of Nigeria sold dollars during a rare currency auction to boost domestic liquidity https://t.co/g9Z8rGvoGn
The National Bank of Ethiopia [@NBEthiopia] has announced the successful conclusion of a special FX auction with a weighted average rate of Birr 107.9 per USD. This will be the daily exchange rate for tomorrow. 27 banks participated in the auction. https://t.co/Sn39Yw0BQo https://t.co/zr4FgMI9r4
