BAKU, Azerbaijan, August 23. The volume of interbank unsecured transactions through a special platform within the Bloomberg trading system in Azerbaijan amounted to 16.6 billion manat ($9.8 billion) from January through June 2023, Trend reports.
According to the Central Bank of Azerbaijan (CBA), 1,536 transactions were concluded during the reporting period.
The CBA said that as a result of the implemented measures, the parameters of the interest rate corridor have a high impact on interest rates in the interbank market.
Therefore, under the influence of these monetary policy decisions, the average interest rate on one-day transactions increased by 1.76 percentage points compared to the end of last year.
There was also activity in the secured money market segment during the reporting period. In addition, 374 transactions worth 1.4 billion manat ($823.5 million) were concluded in the interbank repo market in six months.
The CBA highlighted that the issued notes had a positive impact on the activation of the interbank market, as they were used as collateral in the repo market.
In general, 50 percent of the number and 31 percent of the amount of interbank repo transactions were concluded on the basis of CBA notes during the reporting period.
The CBA has launched monetary policy tools in a new configuration, and a special platform for unsecured transactions has been created within the Bloomberg trading system since September 2022.
