Demand exceeds supply for Azerbaijani Central Bank’s notes 7 times
By Trend
The Central Bank of Azerbaijan (CBA) raised 100 million manats from banks at a deposit auction on July 29, Trend reports referring to the CBA.
The demand from banks amounted to 704.3 million manats.
The interest rate on deposit transactions concluded within the auctions was 6.26 percent. Term of placement of funds is 14 days.
The CBA started to hold deposit auctions in mid-June 2016. Deposit auction is an auction during which the deposits of commercial banks are placed in the CBA. The main aim of such auction is sterilization of money supply.
(1.7 AZN = 1 USD on July 29)
---
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!