CBA to hold deposit auction

3 July 2020 19:03 (UTC+04:00)

By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on July 6, Trend reports referring to CBA.

During the auction, the Central Bank plans to raise 100 million manat ($58 million). The amount may increase from that set for the auction by no more than 20 percent.

The auction will be held on the Bloomberg trading platform from 11:00 (GMT+4) through 11:15 (GMT+4) in a hybrid auction format.

The interest rate on deposits will vary from 6.51 to 6.99 percent. The funds will be placed for a period of 14 days.

CBA began to hold deposit auctions in mid-June 2016.

Presently, 26 banks including two state-owned ones operate in Azerbaijan.

(1 USD = 1.7 AZN on July 3)


Follow us on Twitter @AzerNewsAz