Banks’ demand for central bank’s forex auction doubles

– Forex Auction Draws USD1 Billion in Bids Demand for foreign currency surged in Ethiopia’s latest central bank auction, with commercial banks submitting bids totalling USD1 billion against an allotted amount of USD 500 million — twice the amount on offer — as the birr weakened further against the U.S. dollar. The weighted average exchange […]

Original source: The Reporter Ethiopia