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

  24 December 2019    Read: 1115
Demand at deposit auction of Azerbaijan

The Central Bank of Azerbaijan (CBA) raised 150 million manat ($88.2 million) from banks at a deposit auction on Dec. 23.

The supply exceeded the demand by almost 5.2 times and reached 783.1 million manat ($460.6 million).

The interest rate on deposit transactions concluded within the auction was 5.76 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.




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