Azerbaijan’s Central Bank to raise 100M manats at auction

By  Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Nov. 6 to raise funds, the CBA said on November 2.

CBA is ready to receive 100 million Azerbaijani manats from banks, with interest rate on deposits varying from 10.01 percent to 14.99 percent.

The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days.

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

(1.7003 manats = $1 on Nov. 2)