Azerbaijan’s Central Bank to hold deposit auction
Baku, Azerbaijan, Oct. 21
By Anvar Mammadov – Trend:
The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Oct. 24 to raise funds, the CBA said in a message Oct. 21.
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 12.01 and 14.99 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 more than 700 million manats from local banks since the deposit auctions started, including 124 million manats – in September.