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Central Bank of Azerbaijan to hold deposit auction at Bloomberg trading platform

08 August 2020 [11:40] - TODAY.AZ

By Trend

The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on August 10, Trend reports citing the CBA.

The auction will take place via the Bloomberg trading platform in a hybrid auction format. The CBA plans to put up 150 million manat ($88.2 million) for auction, while the amount may increase from the announced one during the auction by no more than 20 percent.

The interest rate on deposits will vary in the range of 6.26 - 6.74 percent. The term for placing funds is 14 days.

The CBA began to hold deposit auctions in mid-June 2016.

Currently, there are 26 banks operating in Azerbaijan, including two with state participation.

(1 USD = 1.7 manat on Aug. 7)


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