Supply exceeds demand at deposit auction of Central Bank of Azerbaijan
By Trend
The Central Bank of Azerbaijan (CBA) has raised 100 million manat ($58 million) at the deposit auction, Trend reports citing the CBA.
The deposit auction was held on December 21, 2020, the supply from banks exceeded demand by almost six times, reaching 581.7 million manat ($342.2 million).
The weighted average interest rate on deposit transactions concluded within the auction amounted to 5.76 percent.
The funds were raised for a period of 15 days.
The CBA started holding deposit auctions in June 2016.
(1 USD = 1.7 manat on Dec. 21)
--
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!