Demand exceeds supply at CBA auction
By Trend
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) exceeded supply by 6.23 times, the CBA said on November 20.
The CBA received 100 million manats from banks, while the demand was 623.35 million manats. The weighted average interest rate on deposit transactions at the auction was 10.01 percent.
The Central Bank began to hold deposit auctions in mid-June 2016.
Thirty-one banks, including two state-owned ones, operate in Azerbaijan.
(1.7002 manats = 1 USD on Nov. 20)
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