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

9 February 2019 12:00 (UTC+04:00)


The Central Bank of Azerbaijan will hold a deposit auction on Feb. 11 to raise 350 million manats, Trend reports referring to CBA.

The auction will be held on the Bloomberg trading platform.

The interest rate on deposits will vary at 7.26-9.24 percent. The funds will be placed for a period of 14 days.

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

(1 USD = 1.7 AZN on Feb. 8)