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CBA did Not Receive Enough from Deposit Auction
The Central Bank of Azerbaijan at the deposit auction on October 24 raised 24 million manat versus 50 million manat, the Central Bank reported.
According to Turan, the weighted average rate was 14.37%.
The Central Bank started deposit auctions in June 2016. Seventeen auctions have been held so far.
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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