Central Bank to hold auction to raise 150M manats

By Trend

The Central Bank of Azerbaijan (CBA) will hold another deposit auction on May 27, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 150 million manats. The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary from 6.76 to 8.74 percent. The funds will be placed for a period of 14 days.

The CBA began to hold deposit auctions in mid-June 2016. At present, thirty banks including two state-owned ones operate in Azerbaijan.

(1 USD = 1.7 AZN on May 24)

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