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Central Bank of Azerbaijan to hold deposit auction

Finance Materials 30 December 2019 18:32 (UTC +04:00)

BAKU, Azerbaijan, Dec. 30

By Eldar Janashvili - Trend:

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Jan. 7, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 150 million manat ($88.2 million). The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary from 5.76 to 7.49 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 manat on Dec. 30)

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Follow the author on Twitter: @eldarjanashvili

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