I'm not sick, I'm injured!... My friends can call me names, I was made to do the movie. Henok Wondemu about the movie Fereja
The National Bank of Ethiopia (NBE) conducted a $92 million shortfall (additional demand) in its $500 million foreign exchange auction today.
This is the highest since the bank began disclosing the gap between the amount of foreign exchange offered and the amount required.
The central bank offered $500 million today, while the demand from the bidding banks was $592.3 million, according to the bank’s data.
The bank’s auction strengthened the purchasing power of the Ethiopian birr by 11 cents compared to the previous one.
The National Bank, which held its 15th round of auctions on January 12, held its 16th round of foreign exchange auction today.
Accordingly, the $500 million offered was sold at an average rate of 154.81 birr per US dollar.
The National Bank of Ethiopia (NBE) has conducted a foreign exchange auction today, with 31 banks participating, an increase of 10 banks compared to the previous auction.
In today’s foreign exchange auction, 25 out of 31 banks bought or received one dollar at 154.81 birr.
In the previous auction, only 15 out of 21 banks participated in the auction.
This is 10 banks less than today’s auction.
It is reported that the amount of foreign exchange offered today for the 16th time is $430 million more than the amount offered on January 12.
The gap created in the previous auction was $24.7 million.
Yared Endashaw
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