The Central Bank of Azerbaijan will hold a deposit auction on August 13 to raise 350 million manats, the CBA said.
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 within 8.01-9.99 percent.
The CBA began to hold deposit auctions in mid-June 2016. Thirty banks, including two state-owned ones, operate in Azerbaijan.
(1.7 manats = $1 on Aug. 12)