Demand exceeds supply at CBA auction
Baku, Azerbaijan, Nov. 7
By Anvar Mammadov – Trend:
The demand at the deposit auction held by the Central Bank of Azerbaijan (CBA) Nov. 7 was 65 million Azerbaijani manats (1.6596 AZN/USD on Nov. 7), said the CBA.
The CBA was ready to receive 50 million manats from banks. The weighted average interest rate on deposit transactions at the auction was 14.58 percent.
The CBA has attracted more than 800 million manats from local banks since the deposit auctions started mid-June 2016.
Thirty two banks, including two state-owned ones, operate in Azerbaijan.