BAKU, Azerbaijan, Aug. 28
By Eldar Janashvili - Trend:
The Central Bank of Azerbaijan (CBA) will hold another deposit auction on August 31, Trend reports citing the CBA.
The auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 (GMT+4). The CBA plans to put up 100 million manat ($58 million) for auction, while the amount may increase from the announced one during the auction by no more than 20 percent.
The interest rate on deposits will vary in the range of 6.26 - 6.74 percent. The term for placing funds is 14 days.
The CBA began to hold deposit auctions in mid-June 2016.
Currently, there are 26 banks operating in Azerbaijan, including two with state participation.
(1 USD = 1.7 manat on Aug. 28)
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