Supply surpasses demand at deposit auction of Azerbaijan's Central Bank

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.

The deposit auction was held on December 28, 2020, the supply from banks exceeded demand by almost five times, reaching 915.4 million manat ($538.4 million).

The weighted average interest rate on deposit transactions concluded within the auction amounted to 5.76 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 Dec. 28)

--

Follow us on Twitter @AzerNewsAz