Central Bank of Azerbaijan to hold auction to raise 100M

Central Bank of Azerbaijan to hold auction to raise 100M manats

03:23 13 July 2019 Read: 918

Central Bank of Azerbaijan to hold auction to raise 100M manats

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on July 15 to raise 100 million manats.

The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary between 6.51 and 8.49 percent. The funds will be placed for a period of 14 days.

The Central Bank began to hold deposit auctions in mid-June 2016.

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

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