Azerbaijan’s Central Bank to raise more funds at auction

17:20   21 April 2017    873

Central Bank of Azerbaijan (CBA) will hold a deposit auction on Apr. 24 to raise funds, said the CBA Apr. 21.

CBA is ready to receive 200 million Azerbaijani manats from banks, with interest rate on deposits varying between 12.01 percent and 14.99 percent.

Considering the high demand for the placement of manat funds, the CBA again increased the volume of funds to be raised. During the auction held Apr. 17, the supply amounted to 150 million manats, while the demand totaled 298 million manats.

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.

Thirty-two banks operate in Azerbaijan.

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