Central Bank of Azerbaijan reveals funds attracted through auctions
BAKU, Azerbaijan, Nov. 23
By Zeyni Jafarov – Trend:
The balance of funds attracted by the Central Bank of Azerbaijan (CBA) through deposit auctions and auctions on placement of notes is estimated at 959 million manat ($564.1 million) as of early October 2020 Trend reports citing the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
From January through September 2020, the CBA held 49 deposit auctions and 33 auctions for the placement of notes.
According to the CBA, the balance of funds raised through deposit auctions as of early October 2020 made up 250 million manat ($147 million), and through the placement of notes - 709 million manat ($417 million).
The CBA’s report said that in order to prevent the impact of the coronavirus (COVID-19) pandemic and support the macroeconomic stability of the foreign exchange market, changes were made to the timing of the use of sterilization tools.
Thus, deposit auctions began to be held for up to 14 days, instead of 28 days that were held earlier, and auctions for the placement of notes - for 28 days, the report added.
Over the first 9 months of this year, the balance of funds attracted by the CBA via deposit auctions and auctions on placement of notes rose by 0.9 percent compared to the same period of last year.
(1 USD = 1.7 manat on Nov. 23)