Demand nearing 1B manats at CBA deposit auctions
Baku, Azerbaijan, Nov. 27
By Azad Hasanli – Trend:
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by threefold, the CBA said Nov. 27.
The CBA received 300 million manats from banks, while the demand was 903.1 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.
(1.7001 manats = 1 USD on Nov. 27)