Baku, Azerbaijan, April 24. The Azerbaijani
Ministry of Finance has held the next deposit auction, Trend reports via the
ministry.
The auction aimed at managing state budget funds more
efficiently to place the available balance of the Single Treasury
Account, denominated in the national currency, as deposits in local
banks.
According to the results of the auction, 500 million manat ($294
million) of the free balance from the Single Treasury Account was
placed as deposits in the country’s five largest banks—selected
based on their capitalization and asset volumes — for a period of
32 days, at an average weighted interest rate of 7.04 percent.