Azerbaijan’s Central Bank to hold deposit auction

The auction will be held on the Bloomberg trading platform. CBA is ready to receive 50 million Azerbaijani manats from banks. Interest rate on deposits will range between 12.01 and 14.99 percent.

The funds will be placed for a period of 28 days.

The Central Bank began to hold deposit auctions in mid-June.

The CBA has attracted more than 700 million manats from local banks since the deposit auctions started, including 124 million manats raised in September.