Baku, Azerbaijan, Apr. 27
By Azad Hasanli – Trend:
Central Bank of Azerbaijan (CBA) will hold a deposit auction on Apr. 28 to raise funds, said the CBA Apr. 27.
CBA is ready to receive 250 million Azerbaijani manats from banks, with interest rate on deposits varying from 12.01 percent to 14.99 percent.
The funds will be placed for a period of 14 days.
Considering the high demand for the placement of manat funds, the CBA continues to increase the volume of funds to be raised. During the auctions held Apr. 17 and Apr. 24, the supply was 150 and 200 million manats, while the demand was 298 and 365.3 million manats, respectively.
CBA began to hold deposit auctions in mid-June 2016. Thirty-two banks, including two state-owned ones, operate in Azerbaijan.
(1.7025 manats = $1 on Apr. 27)