Azerbaijan’s Central Bank to raise 350M manats at auction

25 May 2018 19:30 (UTC+04:00)

By  Trend

The Central Bank of Azerbaijan will hold a deposit auction on May 29, 2018 to raise 350 million Azerbaijani manats, the CBA said May 25.

The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days. The interest rate on deposits will vary within 8.01-10.99 percent.

The CBA began to hold deposit auctions in mid-June 2016. Thirty banks, including two state-owned ones, operate in Azerbaijan.

(1.7 manats = $1 on May 25)

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