Demand exceeds supply twofold at CBA auction
Baku, Azerbaijan, Jan. 9
By Anvar Mammadov – Trend:
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by twofold, said the CBA Jan. 9.
The CBA received 15 million manats (1.7742 AZN/USD on Jan. 9) from banks for deposit, while the demand was 30 million manats. The weighted average interest rate on deposit transactions at the auction was 14.8 percent.
The Central Bank began to hold deposit auctions in mid-June 2016.
Thirty-two banks, including two state-owned ones, operate in Azerbaijan.