Azerbaijan’s Central Bank to raise 350M manats at auction

 Trend:

The Central Bank of Azerbaijan will hold a deposit auction on August 13 to raise 350 million manats, the CBA said.

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 within 8.01-9.99 percent.

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

(1.7 manats = $1 on Aug. 12)