The move, announced last week, was part of an assault on speculators who have battered the local currency.
The auction will allow the two participating companies, Carlos Slim's América Móvil and new rival AT&T Inc to deploy new mobile services and improve quality.
The commission said it would continue to offer up to US$400 million a day from Feb. 2 to March 31 whenever the peso sees sharp losses.
The central bank sold the dollars at an average weighted price of 18.4399 pesos per dollar.
The peso weakened to 18.2050 per dollar on Friday morning.
The central bank sold the dollars at an average weighted price of 17.5250 pesos per dollar.
The Federal Telecommunications Institute (IFT) said the companies would need to file documents in January ahead of the auction on Feb. 15.
The auction makes the third phase of the so-called Round One tender.
Up to 6 million of the certificates will be awarded in the first auction via 20-year contracts that seek to produce up to 2,500 megawatts of additional power generation from clean sources like wind or solar.
The auction is designed to appeal to Mexican startup oil companies, given the smaller fields on offer.