Central Bank of Azerbaijan to attract 100M AZN from banks

By Trend

The Central Bank of Azerbaijan (CBA) will hold another deposit auction on August 9, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 100 million manats. The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary from 6.26 to 8.24 percent. The funds will be placed for a period of 12 days.

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

($1=1.7 AZN on August 9)