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
Economics
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A high-level event titled “Trio of COP Presidencies Dialogue: Roadmap for Mission 1.5 towards a Future of Shared Prosperity” was held within the framework of the 29th session of the United Nations Climate Change Conference (COP29).
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The State Oil Company of the Azerbaijan Republic (SOCAR) and Slovakia's largest gas operator, Slovenský Plynárenský Priemysel (SPP), have signed a short-term pilot contract for the supply of natural gas, according to sources in Slovakia.
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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