BAKU, Azerbaijan, October 31. The Ministry of Finance of Azerbaijan rolled up their sleeves today and held a fresh deposit auction, aiming to make the most of state budget funds by putting the local currency balances from the treasury account into domestic banks, Trend reports via the ministry.
In alignment with the auction outcomes, a treasury account liquidity of 300 million manat ($176 million) was strategically earmarked for a 28-day deposit across two of the top quintile banks in the nation, selected based on their capitalization metrics and asset scale, at a mean weighted yield of seven percent.
To note, the Central Bank of Azerbaijan executed its inaugural deposit auction on June 13, 2016, aiming to mobilize 129 million manat ($76 million) 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.
