Supply exceeds demand at Azerbaijani Central Bank's deposit auction threefold
BAKU, Azerbaijan, Dec.14
By Zeyni Jafarov – Trend:
The Central Bank of Azerbaijan (CBA) has raised 200 million manat ($117.6 million) at the deposit auction, Trend reports citing the CBA.
According to the information, the deposit auction was held on December 14, 2020, the supply from banks exceeded demand by almost 3 times, reaching 552.8 million manat ($325.2 million).
The weighted average interest rate on deposit transactions concluded within the framework of the auction amounted to 6.01 percent.
The funds were raised for a period of 14 days.
The CBA started holding deposit auctions in June 2016.
(1 USD = 1.7 manat on Dec.14)
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