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Azerbaijan’s Central Bank to hold regular deposit auction

Business Materials 2 December 2016 16:31 (UTC +04:00)
The Central Bank of Azerbaijan (CBA) will hold a regular deposit auction Dec. 5 to raise 50 million Azerbaijani manats
Azerbaijan’s Central Bank to hold regular deposit auction

Baku, Azerbaijan, Dec. 2

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The Central Bank of Azerbaijan (CBA) will hold a regular deposit auction Dec. 5 to raise 50 million Azerbaijani manats, the CBA said in a message Dec. 2.

The auction will be held on the Bloomberg trading platform.

Interest rate on deposits will range between 12.01 and 14.99 percent.

The funds will be placed for a period of 14 days.

The Central Bank began to hold deposit auctions in mid-June 2016. The CBA has attracted over 800 million manats from local banks since the deposit auctions started, including 200 million manats raised during October.

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