The Central Bank of Azerbaijan has raised AZN 44 million for a period of 28 days on the 13th deposit auction. The Central Bank planned to raise 50 million AZN.
The weighted average rate was 14.98%.
The Central Bank launched deposit auctions in June 2016.
According to international practice, the main purpose of deposit auction is the sterilization of money supply. At the time of deposit auctions the Central Bank takes deposits from banks for commercial deployment. -----71D
Economics
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