CBA plans to raise funds at deposit auction

27 November 2020 17:32 (UTC+04:00)

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The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on November 30, 2020 to attract 200 million manat ($117.6 million) for a period of 14 days, Trend reports on Nov. 27 with reference to the CBA.

This amount may increase compared to the amount declared at the auction by no more than 20 percent.

The auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 Baku time. The interest rate corridor on the funds to be raised at the auction on November 30 was set within the range of 6.01 - 6.49 percent.

At a deposit auction on November 23, 2020, the Central Bank attracted 100 million manat ($58.8 million).

The Central Bank of Azerbaijan has started to hold deposit auctions since June 2016.