Abstract：Ethiopia's central bank has allocated $840 million for foreign exchange auctions in the second quarter of the 2026/27 fiscal year, according to a statement reported by CNBC Africa on Tuesday. The funds will be released in six batches through auctions held every two weeks, beginning October 13.
Ethiopia's central bank has allocated $840 million for foreign exchange auctions in the second quarter of the 2026/27 fiscal year, according to a statement reported by CNBC Africa on Tuesday. The funds will be released in six batches through auctions held every two weeks, beginning October 13.
ContentsThe central bank said the $840 million will be divided into six equal batches, with auctions scheduled every two weeks starting October 13. The statement did not specify the exact dates of the subsequent auctions, but the fortnightly schedule implies they will run through late December. The auctions are intended to provide foreign exchange to the market, though the bank did not detail which entities are eligible to participate or how the exchange rate will be determined.
For readers new to foreign exchange, or forex, an auction is a mechanism where a central bank sells foreign currency, typically U.S. dollars, to banks and businesses. This helps determine the local currency's exchange rate and supplies hard currency for imports and other needs. Ethiopia's local currency is the birr, though the report did not explicitly state the currency involved in these auctions. The central bank's allocation signals a planned injection of dollars into the market, but without details on the exchange rate mechanism or total demand, the immediate impact on the birr's value remains unclear.
The $840 million allocation is a significant amount for Ethiopia, a country that has faced foreign exchange shortages in recent years. By injecting dollars through auctions, the central bank aims to ease pressure on the birr and provide businesses with access to foreign currency for imports. However, the report does not specify whether this amount is a target, a ceiling, or a firm commitment, nor does it clarify the source of the funds. Without knowing the total demand for foreign exchange at these auctions, it is difficult to assess how much this allocation will actually help. The auctions could also influence the birr's exchange rate if they set a market-based price for dollars, but the statement did not describe the pricing mechanism.
The report, attributed to Reuters and published by CNBC Africa, did not name any central bank official or spokesperson. It also did not provide information on prior auction allocations, the total demand for foreign exchange, or the parallel-market premium for the birr. Additionally, there was no context on Ethiopia's foreign exchange reserves, inflation, or the broader economic reform program. These gaps limit the ability to assess the full significance of the allocation. The central bank's statement, as reported, focused only on the amount, the number of batches, and the start date. For forex beginners, it is important to note that central bank auctions are just one tool among many that influence currency markets, and their impact depends on a wide range of economic factors not covered in this report.
Download the WikiFX app for the latest forex updates and insights.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Greek authorities have arrested 17 people over an alleged cryptocurrency pyramid scheme that targeted more than 10,000 investors and collected around $9 million, according to a report by News Mobile. The case centres on an organisation called AT Team Greece, which investigators say presented itself as an artificial intelligence-focused association.
India is being hit by four shocks at once, according to a post on X published on Tuesday night: food, fuel, fertiliser and finance. The four numbers behind it are the ones worth checking. Monsoon rainfall running about 13% below normal and the weakest since 2015. Crude oil near $100 a barrel. None of them has been confirmed. The post attributes the framing to External Affairs Minister S. Jaishankar. Nothing published about Jaishankar in the past 72 hours mentions a four-F warning. Treat the attribution as unverified. What is verifiable is the timing. The post went out hours before an RBI policy decision, with Brent already slipping below $100 and US equity futures sitting at records. That split matters more to a USD/INR position than the label does. The four numbers, one at a time Everything in this section comes from the post. Food. El Niño left this year's monsoon about 13% short, the weakest since 2015, which points to lower crop harvests. Fuel. The US-Iran war has kept crude
Two public complaints raise different questions about account funds. A Pakistan-labelled RoboForex post dated 9 July 2026 alleges removal of $1,627.39 and blocked profile access. A Malaysia-labelled Trading Pro post dated 15 August 2024 describes a rejected withdrawal followed by a deduction. Their attached images preserve narrower observations: a displayed balance in the first case and a declined transaction in the second. Comparing the evidence helps readers identify what remains unverified, without ranking the brokers or treating either account as a proven fraud case.
Did your deposit fail to show on the FBS platform? Were you denied fund withdrawals by the Belize-based brokerage firm? Faced an unaccounted fund deduction from your trading account? Did you face losses due to the incorrect triggering of your stop-loss order on the FBS login? These issues have allegedy become widespread among users worldwide, and some of them have reported the same on broker evaluation platforms such as WikiFX. This FBS review 2026 investigates reported issues while providing an overview of the broker's regulatory status.
WikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFXWikiFX
