Ethiopia FX Auction Clears at 159.98 Birr as Dollar Demand Tops $1bln
The average winning rate for the US dollar in Ethiopia’s latest foreign exchange auction rose to 159.98 birr on Tuesday, as demand from commercial banks exceeded the amount supplied by more than twofold, underscoring continued pressure on foreign currency liquidity. The National Bank of Ethiopia said it supplied 500 million US dollars in a special...