Azerbaijan’s Central Bank raises over 140M manats at auction
Baku, Azerbaijan, Feb. 6
By Azad Hasanli – Trend:
The Central Bank of Azerbaijan (CBA) raised 142 million manats (1.9111 AZN/USD on Feb. 6) at a deposit auction, the CBA said Feb. 6.
The CBA was ready to receive 150 million manats as a deposit. The weighted average interest rate on deposit transactions at the auction was 14.81 percent.
The CBA started to hold deposit auctions in mid-June 2016. Deposit auction is an auction during which the deposits of commercial banks are placed in the CBA. The main aim of such an auction is sterilization of money supply.
Thirty two banks, including two state-owned ones, operate in Azerbaijan.