Deals not registered on Azerbaijani Central Bank's guaranteed money market

Business Materials 7 December 2009 19:04 (UTC +04:00)

Azerbaijan, Baku, Dec. 7 / Trend N. Ismayilova /

As a result of auction held on the guaranteed money-market today, the total amount of bids made by market makers, amounted to two million manat - demand, 11 million manat - supply. The guaranteed money-market is a segment organized by the interbank loan market, Baku Interbank Currency Exchange said today.

The bids on the proposal were made from one to 30 days. The minimum rate was 0.9 percent, maximum - 16 percent. Deals on the guaranteed money market were not registered today because of the discrepancy in interest rates.

The guaranteed money market is a new segment of the money market in the organized interbank credit market functioning on the basis of the agreement signed between the Azerbaijani Central Bank, BBVB and a number of market makers (DemirBank, AGBank, Nikoil, Bank Standard, Pashabank, Unibank and Bank of Baku) on October 21, 2009. The Azerbaijani Central Bank is the guarantor to fulfill obligations in this segment of the money market.