Azerbaijan’s Central Bank ready to buy 50M manats from banks

  14 October 2016    Read: 968
Azerbaijan’s Central Bank ready to buy 50M manats from banks
The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on Oct. 17 to raise funds, the CBA said in a message Oct. 14.
The auction will be held on the Bloomberg trading platform. Volume of funds that the CBA is ready to receive from banks will be 50 million Azerbaijani manats and the interest rate on deposits will vary between 12.01 and 14.99 percent.

The funds will be placed for a period of 28 days. The Central Bank began to hold deposit auctions in mid-June.

The CBA has attracted more than 600 million manats from local banks since the deposit auctions started, including 124 million manats – in September.

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