The Central Bank of Azerbaijan (CBA) will daily publish indexes on its website reflecting the weighted average interest rate on operations in the national currency on unsecured interbank market - AZIR (Azerbaijan Interbank Rate), the CBA press service told Trend.
According to the press service, this will be done in line with the procedure for calculating and publishing the indices, approved by the Board of Directors of the CBA.
"When calculating the indices, transactions made in the national currency between the country's banks operating on the Bloomberg trading platform will be used. In addition to percentage indices, the amount and number of transactions will be indicated on the CBA website,” the press service said.
“We use these indices as one of the indicators to measure the effectiveness in achieving monetary policy purposes. Market participants can use indices as a base interest rate when concluding various transactions in the financial market," added the press service.
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Source: Trend News Agency