Demand at deposit auction of Central Bank of Azerbaijan 2.3 times higher than supply
By Trend
The Central Bank of Azerbaijan (CBA) received 350 million manats from banks at a deposit auction on June 11, said a message from the CBA.
The message says the demand at the auction amounted to 803.1 million manats. The weighted average interest rate on deposit transactions concluded within the framework of the auction was 8.01 percent.
The Central Bank started holding deposit auctions from mid-June 2016.
Deposit auction is a tender in which the Central Bank attracts deposits from commercial banks. The main purpose of such auctions is the sterilization of the money supply.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!