BAKU, Azerbaijan, Aug. 23
By Zeyni Jafarov - Trend:
The balance of funds attracted by the Central Bank of Azerbaijan (CBA) through the placement of notes amounted to 520 million manat ($305.8 million) as of the end of the first half of 2021, Trend reports citing the CBA monetary policy review.
From January through June 2021, the CBA held 25 auctions for the placement of notes, of which three were for the placement of long-term notes, and 22 for 28-day notes.
During the last half of 2021, at the auctions for the placement of notes, there was an excess of demand over supply, as a result of which the yield on these instruments was set at a level close to the lower limit of the interest rate band, the CBA noted.
In the first half of 2021, the required reserve ratios were kept unchanged. The continued application of the required reserve ratios based on the averaged mechanism has become one of the factors that have a positive effect on flexible liquidity management on the part of banks.
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