Azerbaijani Central Bank aims to raise 150M manats at auction

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Feb. 3 to raise funds, the CBA said in a message Feb. 1.

Volume of funds that the CBA is ready to receive from banks will be 150 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 14 days.

The Central Bank began to hold deposit auctions in mid-June 2016. As many as 32 banks, including two state-owned ones, operate in Azerbaijan.


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