BAKU, Azerbaijan, November 7. The Ministry of Finance of the Republic of Azerbaijan has thrown its hat in the ring once again with a deposit auction on November 7, looking to keep a tight ship in managing state budget funds by parking treasury account balances in national currency as deposits in local banks, Trend reports via the ministry.
According to the ministry, subsequent to the auction outcomes, treasury capital aggregating 1.9 billion manat (equivalent to $1.1 billion) was allocated into deposit instruments for a duration of 28 days, yielding an average weighted yield of 7 percent. The allocations were disseminated across four of the nation’s five preeminent financial institutions that proffered proposals predicated on their capital adequacy and asset magnitude.
To note, the Ministry of Finance of Azerbaijan executed its inaugural deposit auction in April 2025.
