Key Takeaways
- USD 140 million was allocated in the National Bank of Ethiopia’s October 27 foreign-exchange auction.
- Birr 159.70 per dollar was the weighted average successful-bid rate, down from Birr 160.10.
- USD 150.83 million in bids exceeded available foreign currency by USD 10.83 million.
- 30 commercial banks participated; 28 secured foreign currency.
- Birr 158.18 per dollar was the cut-off rate, compared with Birr 158.17 previously.
- USD 1.26 million less was bid than in the October 13 auction.
- NBE maintained its allocation while excess demand narrowed from USD 12.09 million.
Market Impact
Banks secured dollars at a lower weighted average rate, while aggregate demand still exceeded supply.
The auction records successful bank bids; its results alone do not establish a broader exchange-rate trend.
Key Numbers
- USD 140m — allocation — FX supply.
- USD 10.83m — excess bids — unmet demand.
- Birr 159.70/USD — weighted average — auction pricing.
Business Signal
Auction demand eased, but banks continued bidding for more foreign currency than NBE supplied.