Addis Ababa, March 31, 2025 – The National Bank of Ethiopia (NBE) has announced the launch of a bi-weekly foreign exchange auction system aimed at strengthening the country’s foreign exchange market and supporting macroeconomic stability.
Starting April 1, 2025, the central bank will conduct foreign exchange (FX) auctions every two weeks, providing the private sector with greater access to hard currency. The initial auction will offer $50 million, with subsequent auctions expected to continue over the coming months.
This strategic move comes in the wake of significant improvements in Ethiopia’s balance of payments position, following a comprehensive macroeconomic reform program launched in July 2024. The NBE highlighted rising exports, increased remittances, and higher capital inflows as key contributors to the stronger FX reserves now held by the central bank.
Of particular note is the record delivery of high-quality gold to the NBE, the sole authorized gold exporter in the country. This has substantially boosted the central bank’s gold holdings and increased foreign exchange reserves beyond expectations.
By conducting regular FX auctions, the NBE aims to ensure continued market stability and support the government’s monetary policy objectives. The auctions will partially release the accumulated reserves at the central bank to meet private sector demand, promoting transparency and predictability in FX availability.
Interested parties are required to submit their bids via email between 10 a.m. and 12 noon on auction days. The results will be announced at 3 p.m., with settlements completed by the end of the same day.
For bid submissions and inquiries, stakeholders can contact:
Email: fxauction@nbe.gov.et
