Demand lower than supply at CBA auction
Baku, Azerbaijan, Dec. 11
By Azad Hasanli – Trend:
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) was 36.75 percent lower than supply, the CBA said Dec. 11.
The CBA planned to receive 400 million manats from banks, however, the demand was 292.5 million manats. The weighted average interest rate on deposit transactions at the auction was 10.68 percent.
The Central Bank began to hold deposit auctions in mid-June 2016.
Thirty-one banks, including two state-owned ones, operate in Azerbaijan.
(1.7 manats = 1 USD on Dec. 11)