Demand makes 90% at deposit auction of the Central Bank of Azerbaijan

Baku. 11 July. REPORT.AZ/ At today's regular deposit auction of the Central Bank of Azerbaijan (CBA) involving funds in the amount of 50 mln. AZN, the demand made 45 mln. AZN.

Report informs referring to the Central Bank, the weighted average interest rate on deposit transactions at the auction amounted to 5.99% per annum.

Notably, at the deposit auction held on July 4, involving funds in the amount of 50 mln. AZN the demand was equal to 98.5 million AZN. The weighted average interest rate on deposit transactions at the auction amounted to 5.96% per annum.

"Deposit operations focused on the development of money market and improvement of operating monetary policy framework", said the bank.

Notably, term of the deposit auction - 1 month.

According to the initial announcement, CBA planned to attract 150 mln. AZN, the interest rate was expected in the range of 4,01-6,99%. However, actually it attracted 86% of the planned volume.