The CBA received 50 million manats (1.7339 AZN/USD on Dec. 5) from banks, while the demand was 55 million manats. The weighted average interest rate on deposit transactions at the auction was 14.7 percent.
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 the CBA. The main aim of such an auction is sterilization of money supply.
Thirty two banks, including two state-owned ones, operate in Azerbaijan.
Azerbaijani Central Bank raises 50M manats from local banks
05 December 2016
Read: 1013
Demand at the deposit auction of the Central Bank of Azerbaijan (CBA) slightly exceeded supply, said the CBA Dec. 5.
