Demand exceeds supply at CBA auction
Baku, Azerbaijan, Dec. 29
By Anvar Mammadov – Trend:
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by 18.6 percent, the CBA said Dec. 29.
The CBA received 300 million manats from banks, however, the demand was 355.7 million manats. The weighted average interest rate on deposit transactions at the auction was 13.89 percent.
The Central Bank began to hold deposit auctions in mid-June 2016.
Thirty banks, including two state-owned ones, operate in Azerbaijan.
(1.7001 manats = 1 USD on Dec. 29)