CBA to hold deposit auction on Bloomberg trading platform

13 November 2020 17:35 (UTC+04:00)

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The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on November 16, 2020 in order to attract 200 million manat ($117.6 million) for a period of 14 days, Trend reports citing the CBA.

According to the bank, 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 200 million manat, while the amount may increase from the announced at the auction by no more than 20 percent.

The Central Bank of Azerbaijan raised 100 million manat ($58.8 million) at a deposit auction held on November 10, 2020.

The CBA has been holding deposit auctions since June 2016.

(1 USD = 1.7 AZN on Nov.13)