CBA to hold deposit auction on Bloomberg trading platform

6 November 2020 18:00 (UTC+04:00)

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The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on November 10, 2020 in order to attract 100 million manat ($58.8 million) for a period of 13 days, Trend reports citing the CBA.

According to 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 corridor on the funds to be raised at the auction has been set within 6.01 - 6.49 percent.

The CBA plans to put up for auction 100 million manat ($58.8 million), while the amount may increase from the announced at the auction by no more than 20 percent.

The Central Bank of Azerbaijan raised 200 million manat ($117.6 million) at a deposit auction held on November 2, 2020.

The CBA has been holding deposit auctions since June 2016.