National Bank of Ethiopia Announces $500 Million Special FX Auction.

The National Bank of Ethiopia (NBE) has announced a Special Foreign Exchange Auction amounting to USD 500 million, scheduled to take place on Saturday, February 21, 2026, in Addis Ababa.

In its official notice issued on 20 February 2026, the central bank stated that the special auction is being conducted for monetary policy purposes, signaling a significant intervention in the foreign exchange market.

According to the announcement, interested banks are invited to submit their bids between 10:00 AM and 12:00 NOON via email ([email protected]). The results of the auction will be announced at 3:00 PM, with settlement to be completed by the end of the same day.

The USD 500 million offering represents one of the larger single-auction allocations, reflecting the central bank’s continued use of foreign exchange auctions as a policy instrument to manage liquidity conditions and support external sector stability.

Market participants will be closely monitoring the auction outcome, particularly the cut-off rate and participation levels, as indicators of current foreign exchange demand and pricing dynamics within Ethiopia’s banking sector.

The NBE noted that further auctions will continue in line with its broader monetary and exchange rate management framework.