Ethopia: Central bank rolls out bi-weekly forex auctions as reserves surge 200%

Addis Abeba – The National Bank of Ethiopia (NBE) has announced the launch of bi-weekly foreign exchange auctions.

According to the central bank’s statement, this decision aims to allocate a portion of the foreign exchange accumulated at the NBE to the private sector. The auctions will continue at least until the end of the current fiscal year.

The introduction of bi-weekly auctions follows the implementation of a market-based exchange rate regime, which replaced…