Demand at deposit auction of Azerbaijan’s Central Bank exceeds supply by 2.1 times
By Trend
The Central Bank of Azerbaijan (CBA) received 350 million manats from banks at a deposit auction on Dec. 10, CBA said in a message.
According to the message, the demand at the auction amounted to 733.2 million manats. The weighted average interest rate on deposit transactions concluded within the auction was 7.76 percent.
The CBA has started to hold deposit auctions since 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 money supply.
($1 = 1.7 AZN on Dec. 10)
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