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Central Bank of Azerbaijan to hold auction to raise 100M manat

Finance Materials 18 October 2019 10:54 (UTC +04:00)
The Central Bank of Azerbaijan (CBA) will hold another deposit auction
Central Bank of Azerbaijan to hold auction to raise 100M manat

Baku, Azerbaijan, Oct. 18

By Eldar Janashvili - Trend:

The Central Bank of Azerbaijan (CBA) will hold another deposit auction on Oct. 21, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 100 million manat ($58.823 million). The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary from 6.26 to 7.99 percent. The funds will be placed for a period of 14 days.

CBA began to hold deposit auctions in mid-June 2016. Presently, 30 banks including two state-owned ones operate in Azerbaijan.

(1 USD = 1.7 AZN on Oct. 18)

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Follow the author on Twitter: @eldarjanashvili

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