CBA holds deposit auction

By Trend

The Central Bank of Azerbaijan (CBA) has attracted 200 million manat ($117.6 million) at the deposit auction, Trend reports citing the CBA.

According to the CBA, the deposit auction was held on November 16, 2020, and the supply of banks at the auction exceeded demand by more than 3 times, reaching 758.3 million manat ($446 million).

The weighted average interest rate on deposit transactions concluded within the framework of the auction amounted to 6.01 percent.

The funds were raised for a period of 14 days.

The CBA has been holding deposit auctions since June 2016.

(1 USD = 1.7 manat on Nov. 16)

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