Azerbaijan’s Central Bank to raise 300M manats at

Azerbaijan’s Central Bank to raise 300M manats at auction

18:39 18 March 2017 Read: 750

Azerbaijan’s Central Bank to raise 300M manats at auction

Central Bank of Azerbaijan (CBA) will hold a deposit auction on March 27 to raise funds, said the CBA.

The auction will be held on the Bloomberg trading platform.

CBA is ready to receive 300 million Azerbaijani manats from banks, with interest rate on deposits varying between 12.01 percent and 14.99 percent.

The funds will be placed for a period of 14 days.

CBA began to hold deposit auctions in mid-June 2016.

Thirty-two banks, including two state-owned ones, operate in Azerbaijan.

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