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Azerbaijan’s Central Bank to raise 350M manats at auction

Azerbaijan’s Central Bank to raise 350M manats at auction
The Central Bank of Azerbaijan will hold a deposit auction on Jan. 14 to raise 350 million manats, the CBA said.
The auction will be held on the Bloomberg trading platform. The funds will be placed for a period of 14 days.
The interest rate on deposits will vary within 7.76-9.74 percent.

The CBA began to hold deposit auctions in mid-June 2016. Thirty banks, including two state-owned ones, operate in Azerbaijan.
(1.7 manats = $1 on Jan. 11)

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