On Central Bank Deposit Auction Demand Exceeds Supply by AZN Two Million

At the new deposit auction the Central Bank of Azerbaijan raised AZN 50 million at a weighted average rate of 14.98%, according to Central Bank.

The demand at the auction was 52 million manat.

It was the 20th deposit auction. The Central Bank started such 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

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