Baku / 09.10.17 / Turan: At the deposit auction of the Central Bank of Azerbaijan on Monday demand exceeded supply by 4.5 times.
Demand at the auction amounted to 456.3 million manat, with the Central Bank offering 100 million manat. The funds were raised for a period of 14 days, at an average weighted rate of 10.01%.
Deposit auctions are held as part of anti-inflation measures. The Central Bank has started holding deposit auctions since June 2016. ----71D
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