Baku, Azerbaijan, Nov. 23
By Anvar Mammadov – Trend:
The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Nov. 27 to raise 300 million Azerbaijani manats, the CBA said Nov. 23.
Earlier, CBA received 100 million manats from banks, but the demand was 623.35 million manats.
The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days. The interest rate on deposits will vary from 10.01 percent to 14.99 percent.
CBA began to hold deposit auctions in mid-June 2016. Thirty-one banks, including two state-owned ones, operate in Azerbaijan.
(1.7002 AZN = $1 on Nov. 23)