(MENAFN- AzerNews) By Trend
The Central Bank of Azerbaijan (CBA) received 350 million manats from banks at a deposit auction on March 18, Trend reports referring to the CBA.
The bank noted that the demand at the auction amounted to 439.2 million manats.
The weighted average interest rate on deposit transactions concluded within the auction was 7.01 percent.
The CBA has started to hold deposit auctions since mid-June 2016.
Deposit auction is a tender in which the Central Bank attracts deposits from commercial banks. The main purpose of such auctions is sterilization of money supply.
(1 USD = 1.7 manats on March 18)
MENAFN1803201901950000ID1098269569
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.