Vugar Bayramov: The latest interest rates on Central Bank’s notes show increase

12:50 - 19.03.2024

March 19, Fineko/ According to the latest interest rates on the notes of the Central Bank, a slight increase was recorded. So, since February 8, there has been an increase in interest rates, which declined some time ago.

ABC.AZ reports that MP Vugar Bayramov, a member of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship, wrote about this on his social network account.

He noted that 168-day bonds with an interest rate of 6.62% at the beginning of last month are currently being offered at a rate of 6.85%.

A similar increase was recorded on the 84-day and 28-day notes. A similar increase is recorded in 252-day banknotes, which are considered long-term. The Central Bank's discount rate was last changed on February 1 and reduced from 8% to 7.75%. Despite the decrease in the discount rate, there is an increase in the yield of CBA’s notes.

One of the key points in the interest rates on promissory notes is that the final interest rate on 28-day notes was only 0.05% lower than on 168-day notes. This may lead to an increase in interest in short-term positions and a decrease in demand for medium-term bonds.

In general, the volume of banknotes in circulation of the Central Bank is 1.295 bn manats. Compared with the last day of last month, the volume of notes grew by 33.16 million manats," Bayramov said.