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Azerbaijani Central Bank aims to raise 50M manats at auction

Business Materials 8 December 2016 10:44
The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on Dec. 12 to raise funds.
Azerbaijani Central Bank aims to raise 50M manats at auction

Baku, Azerbaijan, Dec. 8

By Anvar Mammadov – Trend:

The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on Dec. 12 to raise funds, the CBA said in a message Dec. 8.

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 (1.7369 AZN/USD on Dec. 8) and the interest rate on deposits will vary between 12.01 and 14.99 percent.

The funds will be placed for a period of 14 days. The Central Bank began to hold deposit auctions in mid-June.

The CBA has attracted about 900 million manats from local banks since the deposit auctions started.

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