Azerbaijan's Central Bank to hold auction at Bloomberg trading platform
By Trend
The Central Bank of Azerbaijan (CBA) will hold another deposit auction on July 27, Trend reports with reference to the CBA.
The auction will be held on the Bloomberg trading platform from 11:00 (GMT+4) to 11:15 in the format of a hybrid auction. The CBA plans to put up for auction 150 million manat ($88.2 million). This amount may increase from the announced at the auction by no more than 20 percent.
The interest rate on deposits will vary from 6.51 to 6.99; percent.
The term for placing funds is 14 days.
The CBA began holding deposit auctions in mid-June 2016.
Currently, there are 26 banks operating in Azerbaijan, including two with state participation.
(1 USD = 1.7 AZN on July 25)
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