CBA to hold deposit auction

25 September 2020 17:55 (UTC+04:00)

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The Central Bank of Azerbaijan (CBA) will hold another deposit auction on Sept. 28 to attract 100 million manat ($58 million) for 14 days, Trend reports on Sept. 25 citing the CBA.

The auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 (GMT+4).

The interest rate on the attracted funds has been set at 6.01 - 6.49 percent.

The CBA plans to put up 100 million manat ($58 million) for auction, while the amount may increase from the announced one during the auction by no more than 20 percent.

The CBA raised 100 million manat at the deposit auction on September 14. The CBA began to hold deposit auctions in mid-June 2016.

(1 USD = 1.7 manat on Sept. 25)