The Central Bank of Azerbaijan (CBA) will hold a deposit auction on July 13, Trend reports referring to CBA.
During the auction, the Central Bank plans to raise 150 million manat ($88 million). The amount may increase from that set for the auction by no more than 20 percent.
The auction will be held on the Bloomberg trading platform from 11:00 (GMT+4) through 11:15 (GMT+4) in a hybrid auction format.
The interest rate on deposits will vary from 6.51 to 6.99 percent. The funds will be placed for a period of 14 days.
CBA began to hold deposit auctions in mid-June 2016.
Presently, 26 banks including two state-owned ones operate in Azerbaijan.
(1 USD = 1.7 AZN on July 10)