On October 19, 2020, the Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks in order to attract 150 million manat ($88.2 million) for a period of 14 days, Trend reports with reference to the CBA.
According to the ministry, 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 corridor on the funds raised at the auction on October 19 was set within 6.01 - 6.49 percent.
The Central Bank of Azerbaijan plans to put up for auction 150 million manat ($88.2 million), while the amount may increase from the announced at the auction by no more than 20 percent.
The CBA raised 100 million manat ($58.8 million) at a deposit auction on October 12, 2020. It has been holding deposit auctions since June 2016.
(1 USD = 1.7 manat on Oct. 16)
Follow us on Twitter @AzerNewsAz