Central Bank of Azerbaijan plans to raise funds at deposit auction

By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on November 23, 2020, in order to attract 100 million manats ($58.82) for a period of 14 days, Trend reports with reference to the CBA.

As reported, this amount may increase from the amount declared at the auction by no more than 20 percent

The auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 Baku time. The interest rate corridor on the funds raised at the auction on November 23 was set within the range of 6.01 - 6.49 percent.

At a deposit auction on November 16, 2020, the Central Bank attracted 200 million manats ($117.65). The Central Bank of Azerbaijan has started holding deposit auctions since June 2016.