Central Bank Plans to Attract 200 Million Manat at Deposit Auction

On April 10, the Central Bank plans to raise AZN 200 million at the deposit auction. The funds will be attracted for a period of 14 days at an interest rate of 12.01% -14.99%.

Since June 2016, the Central Bank has started holding deposit auctions. According to international practice, the main purpose of deposit auctions is sterilization of the money supply. During the deposit auctions, the Central Bank accepts deposits of commercial banks for placement.   ----71D

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