NBE Schedules Four FX Auctions, Allocates USD 500 Million for First Quarter of FY 2026/27
The National Bank of Ethiopia (NBE) has announced a schedule of four foreign exchange (FX) auctions for the first quarter of the 2026/27 fiscal year, allocating a total of USD 500 million for sale through bi-weekly auctions beginning on August 12, 2026.
According to a press release issued by the central bank on Wednesday, each auction will offer USD 125 million, with auctions scheduled every two weeks through September. The auction dates are August 12, August 26, September 9, and September 23, 2026.
The publication of a quarterly auction schedule continues the National Bank’s efforts to provide greater transparency and predictability in Ethiopia’s foreign exchange market following the introduction of regular FX auctions under the country’s ongoing exchange rate reform.
Unlike earlier phases of the auction framework, when the central bank frequently announced individual auctions or adjusted the size and timing of allocations based on prevailing market conditions, the latest announcement provides banks with a full quarterly calendar and a pre-committed allocation of USD 500 million.
During the previous fiscal year, the National Bank conducted a series of regular and special foreign exchange auctions, including higher-value allocations to ease foreign currency shortages and support the transition to a more market-based exchange rate system. The move to publish a complete quarterly schedule in advance is expected to improve planning for commercial banks, enhance market transparency, and reinforce confidence in the predictability of official foreign currency supply.
Since introducing the competitive FX auction mechanism as part of Ethiopia’s broader macroeconomic reform program, the National Bank has increasingly relied on auctions to facilitate price discovery and distribute foreign currency more transparently. The framework has become one of the central pillars of the country’s ongoing foreign exchange liberalization, complementing reforms that have narrowed the gap between the official and parallel exchange markets while improving access to foreign currency through formal channels.
The latest announcement covers only the first quarter of the fiscal year, with a cumulative allocation of USD 500 million to be distributed equally across the four scheduled auctions.
NBE’s First Quarter FX Auction Schedule (FY 2026/27)
| Auction Date | Amount |
| August 12, 2026 | USD 125 million |
| August 26, 2026 | USD 125 million |
| September 9, 2026 | USD 125 million |
| September 23, 2026 | USD 125 million |
National Bank of Ethiopia