The Central Bank of Azerbaijan (CBA) will hold a deposit auction for banks in order to attract 100 million manat ($58.8 million) for a period of 14 days on October 26, 2020, Trend reports with reference to the CBA.
According to the ministry, 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 October 19 was set within 6.01 - 6.49 percent.
The Central Bank of Azerbaijan plans to put up for auction 100 million manat ($58.8 million), while the amount may increase from the announced at the auction by no more than 20 percent.
The CBA raised 100 million manat ($58.8 million) at a deposit auction on October 12, 2020. It has been holding deposit auctions since June 2016.
(1 USD = 1.7 manat on Oct. 23)
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