$ 1,5 billion Sterilization in Azerbaijan

$ 1,5 billion Sterilization in Azerbaijan “The Central Bank of Azerbaijan (CBA) has been keeping regulatory monetary policy to intervene in the market in order to keep the exchange rate of manat, national currency, for more than the decade.  CBA held currency sterilization in the amount of USD 1,584 billion in 2012 and manat against USD consolidated by 0.19%. The stability of the manat monthly cost of 135 million dollars. In this regard, the crucial... Read More

Banks increase rates on deposits in manats

Banks increase rates on deposits in manats On 1 August, the average interest rate on deposits and deposits in national currency – manat in Azerbaijani banks amounted to 10.36% against 10.33% on July 1, 10.26% on January 1, and 10.69% on August 1, 2011 year. According to the Central Bank of Azerbaijan (CBA), the average rate on bank deposits in foreign currencies amounted to 10.77%, while on 1 July the rate was 10.79%,on 1 January –... Read More

Central Bank of Azerbaijan Moves to Strict Measures

Central Bank of Azerbaijan Moves to Strict Methods Central Bank of Azerbaijan (CBA) applies harden requirement in banking sector after bankruptcy of Royal Bank, one of top banks in Azerbaijan.  CBA increased up amount of minimum volume of total capital for to AZN 50 million ($ 64,1 million) from AZN 10 million ($  12,4 million) . The new standard on the minimum volume of total capital comes into force from 01 January 2014, the Central Bank. “This... Read More