The Central Bank of Azerbaijan attracted AZN 59 million from the 17 October deposit auction.
The deposits were raised at the rate of 14.67% for a period of 28 days.
Note that it was the 16th deposit auction.
The Central Bank started deposit auctions in 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. ------71D
Economics
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