BAKU, Azerbaijan, As a part of operations on the open market aimed at the provision of liquidity, seven-day reverse REPO auctions are planned, Trend reports referring to the CBA.

The bank said that since September of this year, the use of new monetary policy tools has begun. In this direction, the range of operations on the open market has been expanded.

“As a tool of permanent opportunity, the use of one-day deposit operations for the sterilization has begun, as has the organization of the reverse one-day REPO operations to provide liquidity. In order to improve operations on the open market, it was deemed appropriate, if necessary, to hold seven-day REPO auctions along with 1,3,6-month and 9-month notes for sterilization purposes,” the bank said.

The average daily volume of one-day deposit operations amounted to 456.6 million manat ($268.59 million) from September through November. A total of 34 auctions of notes were held in order to effectively manage liquidity from October through November 2022.

Source: TREND News Agency