Ethiopia to conduct FX auctions every two weeks
NBE says move will help it achieve policy objectives as it looks to lower inflation to single digits
The National Bank of Ethiopia (NBE) announced on March 31 that it would conduct foreign exchange auctions every two weeks over the coming months to ensure the FX market’s continued stability.
In a statement posted on social media, the central bank said these operations would provide the private sector with a portion of the FX reserves the NBE had accumulated.
It said the auctions would also help it to achieve its monetary policy objectives. The NBE’s target is to bring inflation, which stood at 15
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