NBE Launches $100 Million FX Auction as Pressure Builds in Currency Market
The National Bank of Ethiopia (NBE) said on Monday it will hold a special foreign-exchange auction worth 100 million U.S. dollars on June 9, offering commercial banks access to hard currency through its auction platform. According to the central bank, bids will be submitted between 10:00 a.m. and 12:00 noon through its CSD-based foreign-exchange auction...