Banks' supply exceeds demand at deposit auction of Central Bank of Azerbaijan by five times
BAKU, Azerbaijan, Nov. 23
By Zeyni Jafarov – Trend:
The Central Bank of Azerbaijan (CBA) has raised 100 million manat ($58.8 million) at the deposit auction held on November 23, 2020, Trend reports citing the CBA.
According to the CBA, the supply from banks exceeded demand by more than five times and reached 531 million manat ($312.3 million).
The weighted average interest rate on deposit transactions concluded within the auction amounted to 6.01 percent.
The term of maturity is 14 days.
The CBA has been holding deposit auctions since June 2016.
(1 USD = 1.7 manat on Nov. 23)