Supply exceeds demand at Azerbaijani Central Bank’s auction
Baku, Azerbaijan, Oct. 24
By Anvar Mammadov – Trend:
Demand at the deposit auction, held by the Central Bank of Azerbaijan (CBA) Oct. 24, was 24 million manats (1.6151 AZN/USD), said the CBA.
The CBA was ready to receive 50 million manats from the banks through the auction.
The weighted average interest rate in the deposit transactions concluded at the auction was 14.37 percent.
The CBA raised 124 million manats from local banks in September through deposit auctions.
The Central Bank began to hold deposit auctions in mid-June.
The CBA has raised more than 700 million manats from local banks since the deposit auctions started.
Thirty-two banks, including two state-owned ones, operate in Azerbaijan.