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Central Bank of Azerbaijan to host auction on Bloomberg trading platform

Finance Materials 11 October 2020 17:26 (UTC +04:00)
Central Bank of Azerbaijan to host auction on Bloomberg trading platform

BAKU, Azerbaijan, Oct. 11

By Zeyni Jafarov – Trend:

The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on October 12, 2020 in order to attract 100 million manat ($58.8 million) for a period of 14 days, Trend reports with reference to the country's Central Bank.

According to the bank, the auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 Baku time. The interest rate corridor on the funds raised at the auction on October 5 was set within 6.01 - 6.49 percent.

As reported, the Central Bank plans to put up for auction 100 million manat ($58.8 million), while the amount may increase from the announced at the auction by no more than 20 percent.

Meanwhile, at the deposit auction on October 5, 2020, the CBA raised 150 million manat ($88.2 million). The CBA began holding deposit auctions in June 2016.

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