A REPO auction for AZN 100 million was held at the Baku Stock Exchange (BSE) with ISIN code AZ2001008351, acting as the side of the Central Bank of Azerbaijan (CBA).

This was reported by the BSE.

The report says that 100 million REPO items at a starting price of AZN 1 were put up for auction. Seven banks submitted 16 orders for total of AZN 42.5 million to them. Thus, the placement was down by 57.5% than expected.

The REPO term was 7 days, with minimum interest rate-6.5%, maximum interest and cut-off rate – 8.24%, and average interest rate -7.59%, which complies with the lower and upper limits of the CBA interest rate corridor

Source: Turan News Agency