Azerbaijan’s Central Bank aims to raise 50M manats at auction
Baku, Azerbaijan, Aug. 26
By Azad Hasanli – Trend:
The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on Aug. 29 to raise funds, the CBA said in a message Aug. 26.
The auction will be held on the Bloomberg trading platform. Volume of funds that the CBA is ready to receive from banks will be 50 million Azerbaijani manats and the interest rate on deposits will vary between 4.01 and 9.49 percent.
The funds will be placed for a period of 28 days.
The Central Bank began to hold deposit auctions in mid-June.
The CBA has attracted 400 million manats from local banks since the deposit auctions started.