Central Bank of Azerbaijan to hold auction to raise 100M manats

By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on June 14 to raise 100 million manats, Trendreports referring to the CBA.

The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary between 6.51 and 8.49 percent.

The funds will be placed for a period of 13 days. The Central Bank began to hold deposit auctions in mid-June.

At the previous auction on June 10 the CBA raised 150 million manats.

Presently, thirty banks including two state-owned ones operate in Azerbaijan.

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