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The National Bank of Ethiopia announced today in a special foreign currency auction that one dollar was sold at an average price of 107.9 birr, adding that 27 banks participated in the auction.
Political and economic analyst Shoayehu Shtahun told VOA that the National Bank took this step to stabilize the foreign exchange market.
Meanwhile, the government announced that the pump price of fuel, one of the revenue products subsidised to protect against the effects of inflation, will remain unchanged.
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