CBA Attracts AZN 30 Million

On December 26 the Central Bank of Azerbaijan raised 30 million manat on the deposit auction against the planned 50 million manat. The funds were raised for 14 days at the weighted average rate of 14.10%.

CBA launched deposit auctions in June 2016. According to international practice, the main purpose of deposit auctions is the sterilization of money supply. At the time of deposit auctions the Central Bank receives commercial banks' deposits for placement.   ----71D

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