Central Bank of Azerbaijan to hold deposit auction for banks

27 December 2020 11:00 (UTC+04:00)

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By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks on December 28, 2020 in order to attract 200 million manat ($117.6 million) for a period of 14 days, Trend reports with reference to the CBA.

As reported, this amount may increase from the amount declared at the auction by no more than 20 percent.

According to the 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 raised at the auction on December 28 was set at 5.76 - 6.24 percent.

The Central Bank of Azerbaijan (CBA) raised 100 million manat ($58.8 million) at a deposit auction on December 21, 2020. The CBA has started holding deposit auctions since June 2016.