BAKU, Azerbaijan, June 24. The average daily AZIR rate has remained in the range of 6.43–6.44% since the end of March 2026, according to the Central Bank of Azerbaijan (CBA).
In its statement, the CBA said monetary policy instruments are being applied in line with developments in financial markets and liquidity conditions in the banking system. It noted that short-term interest rates in the unsecured money market continue to form within the Central Bank’s interest rate corridor, close to the discount rate.
To manage liquidity conditions and keep the AZIR rate near the policy rate, the Central Bank has primarily relied on 7-day deposit operations amid excess liquidity in the banking system.
By the end of May, the share of 7-day deposit operations accounted for 88.7% of the sterilization portfolio used in open market operations.
The CBA also said it regularly conducts auctions for the placement of Central Bank notes, adding that yields on notes across all maturities declined in May and June.
Excess liquidity in the banking sector is expected to increase further over the remainder of the year, the statement added.
