On the deposit auction of August 22 the Central Bank of Azerbaijan raised AZN 30 million, the Central Bank reported.
According to Turan, AZN 30 million was raised for a period of 28 days. The weighted average rate was 9.49%.
Note that in the auction the Central Bank planned to raise AZN 50 million.
Note that this is the ninth deposit auction. The Central Bank has conducted such auctions since June 2016.
According to international practice, the main purpose of deposit auctions is the sterilization of money supply. At deposit auctions the Central Bank receives commercial banks' deposits for placement. ----76D
Economics
-
SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
-
The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
-
Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
-
Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
Leave a review