Azerbaijan Central Bank to raise 15M manats at auction

6 January 2017 20:03 (UTC+04:00)

Baku, Azerbaijan, Jan. 6

By Anvar Mammadov – Trend:

The Central Bank of Azerbaijan (CBA) will hold the first deposit auction of 2017 on Jan. 9 to raise funds, the CBA said Jan. 6.

The auction will be held on the Bloomberg trading platform.

Volume of the funds that the CBA is ready to receive from banks will be 15 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 14 days. The Central Bank began to hold deposit auctions in mid-June 2016.

(1.7742 manats = $1 on Jan. 6)

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