The Central Bank of Azerbaijan will hold the next deposit auction on December 5.
The Central Bank plans to raise 50 million AZN, for a period of 14 days at the weighted average rate of 12.01% -14.99%.
The Central Bank has been holding such auctions since 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.
At every auction the Central Bank announces plans to raise 50 million AZN. -----71D
Economics
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