Central Bank Raised AZN 142 Million on Deposit Auction
On the deposit auction on February 6 the Central Bank of Azerbaijan raised 142 million manat.
The funds were raised for a period of 14 days, at the weighted average rate of 14.81%.
It should be noted that the Central Bank's demand was 150 million manat.
The Central Bank since June 2016 launched deposit auctions.
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