Economy
NBE Sets $840 Million FX Auction Schedule for Second Quarter
BirrMetrics · 3 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
The National Bank of Ethiopia has announced a schedule to offer 840 million US dollars through six foreign exchange auctions during the second quarter of the 2026/27 fiscal year.
- The National Bank of Ethiopia will offer a total of 840 million US dollars through six foreign exchange auctions during the second quarter of the 2026/27 fiscal year.
- Each of the six auctions will carry an allocation of 140 million US dollars.
- The central bank announced the schedule on October 6, setting the first auction for October 13.
- Subsequent auctions are scheduled for October 27, November 10, November 24, December 8, and December 22.
- The bi-weekly auctions continue the central bank's regular supply of foreign currency to commercial banks as part of ongoing foreign exchange market reforms.
- At a September 23 auction, commercial banks submitted 123.49 million US dollars in bids against a 125 million US dollar allocation, with all 27 participating banks succeeding.
- Recent reforms have included market-determined exchange rates, updated export-proceeds requirements, forward foreign exchange transactions, and foreign currency retention accounts.
- An automated interbank foreign exchange trading platform was launched at the Ethiopian Securities Exchange in January 2026.
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