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

Fri 18 Oct 2019 06:56 GMT | 10:56 Local Time

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The Central Bank of Azerbaijan (CBA) will hold another deposit auction on Oct. 21, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 100 million manat ($58.823 million). The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary from 6.26 to 7.99 percent. The funds will be placed for a period of 14 days.

CBA began to hold deposit auctions in mid-June 2016. Presently, 30 banks including two state-owned ones operate in Azerbaijan.

(1 USD = 1.7 AZN on Oct. 18)

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