Azerbaijan’s Central Bank to raise 400M manats at auction

By  Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on Dec. 11 to raise 400 million Azerbaijani manats, the CBA said on December 8.

The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days. The interest rate on deposits will vary from 10.01 percent to 14.99 percent.

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

(1.7 AZN = $1 on Dec. 8)