Azerbaijani Central Bank to raise 100M manats at auction

By Trend

The Central Bank of Azerbaijan (CBA) will hold a deposit auction on June 3 to raise funds, Trend reports referring to the CBA.

The auction will be held on the Bloomberg trading platform.

Volume of funds that the CBA ready to receive from banks will be 100 million Azerbaijani manats and the interest rate on deposits will vary between 6.76 and 8.74 percent.

The funds will be placed for a period of 14 days. The Central Bank began to hold deposit auctions in mid-June.

(1 USD = 1.7 manats on May 31)