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Demand exceeds supply threefold at CBA auction

Business Materials 16 October 2017 17:20 (UTC +04:00)
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by 3.2 times.
Demand exceeds supply threefold at CBA auction

Baku, Azerbaijan, Oct. 16

By Azad Hasanli – Trend:

Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by 3.2 times, the CBA said Oct. 16.

The CBA received 200 million manats from banks, while the demand was at the level of 636.1 million manats. The weighted average interest rate on deposit transactions at the auction was 10.01 percent.

The Central Bank began to hold deposit auctions in mid-June 2016.

Thirty one banks, including two state-owned ones, operate in Azerbaijan.

(1.7003 manats = 1$ on Oct. 16)

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