Demand exceeds supply at CBA auction
By Trend
Demand at a deposit auction held by the Central Bank of Azerbaijan (CBA) slightly exceeded supply, the CBA said Jan. 8.
The CBA planned to receive 300 million manats from banks, however, the demand was 300.3 million manats. The weighted average interest rate on deposit transactions at the auction was 14.79 percent.
The Central Bank began to hold deposit auctions in mid-June 2016.
Thirty banks, including two state-owned ones, operate in Azerbaijan.
(1.7001 manats = 1 USD on Jan. 8)
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