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Azerbaijan’s Central Bank to raise 200M manats at auction

1 December 2017 10:06 (UTC+04:00)
Azerbaijan’s Central Bank to raise 200M manats at auction

By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on December 4 to raise 200 million Azerbaijani manats, the CBA said on December 1.

The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days. The interest rate on deposits will vary from 10.01 percent to 14.99 percent.

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

(1.7001 AZN = $1 on December 1)

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