@mahi.updates: Birr Strengthens as NBE Holds USD 500M Special FX Auction • NBE held a USD 500 million special FX auction on August 20. • Banks submitted bids totaling USD 710.14 million. • 22 banks participated, and 21 received foreign currency. • The weighted-average exchange rate was 160.2144 birr per USD. • The marginal cut-off rate was 160.2121 birr per USD. • Bids ranged from 159.5003 to 160.2500 birr per USD, a spread of about 0.75 birr. • In the previous August 12 auction, bids ranged from 159.9825 to 163.9899, a spread of about 4 birr. • The August 12 weighted-average rate was 161.7994 birr per USD. • Compared with the previous auction, the birr strengthened by about 0.98%, or roughly 1%. • On August 12, only 9 of 28 banks received FX, compared with 21 of 22 on August 20. • The USD 500 million special auction was not included in NBE’s original quarterly auction calendar. • Bloomberg data showed the birr as the worst performer over the past 12 months among 23 African currencies tracked. • Bloomberg also reported that Ethiopia spent about USD 2.2 billion in 2026 to support the birr. #Updates #forex #dollar #banks #ethiopian_tik_tok🇪🇹🇪🇹🇪🇹🇪🇹

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Thursday 20 August 2026 17:39:59 GMT