Demand at deposit auction of Azerbaijan's Central Bank exceeds

Demand at deposit auction of Azerbaijan's Central Bank exceeds supply

19:32 14 October 2019 Read: 881

Demand at deposit auction of Azerbaijan

The Central Bank of Azerbaijan (CBA) raised 150 million manats from banks at a deposit auction on Oct. 14, CBA reports.

The supply exceeded the demand almost four times and reached 582.8 million manats.

The interest rate on deposit transactions concluded within the auction was 6.26 percent. Term of placement of funds is 14 days.

The CBA started to hold deposit auctions in mid-June 2016. Deposit auction is an auction during which the deposits of commercial banks are placed in CBA. The main aim of such auction is sterilization of money supply.

More about: #CentralBank

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