The Central Bank of Azerbaijan will hold the ninth deposit auction on August 22.
According to Turan, the Central Bank plans to attract 50 million manats for a period of 28 days at a rate of 4.01% - 9.49%.
Note that the auction scheduled for August 22 will be the fourth deposit auction for the current month.
It is noteworthy that in each of the previous three auctions, the Central Bank did not manage to collect the planned amount.
On August 15, the Central Bank raised 15 million AZN compared to the planned 50 million, on August 8 it raised 40 million AZN compared to the planned 50 million, and on August 1 it raised 20 million AZN compared to the planned 50 million AZN.
In June 2016 the Central Bank started to hold 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 deposits from commercial banks for placement. -------73D
Economics
-
Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
-
The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
-
Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
-
In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
Leave a review