BAKU, Azerbaijan, October 17. The Ministry of Finance of Azerbaijan held a new deposit auction today to manage state budget funds more efficiently by placing the treasury account’s local currency balances in domestic banks, Trend reports via the ministry.
According to the results of the auction, a treasury account balance of 600 million manat ($352.9 million) was allocated to a 28-day deposit across three of the nation’s leading five banks, chosen based on their capitalization and asset magnitude, at an average weighted interest rate of 7.00 percent.
To note, the Central Bank of Azerbaijan executed its inaugural deposit auction on June 13, 2016, aiming to mobilize 129 million AZN from the commercial banking sector. The Ministry of Finance conducted its inaugural deposit auction in April 2025 as a strategic maneuver to optimize the management of state budgetary resources.
