Azerbaijani banks sharply increased transactions on Bloomberg platform and REPO market

Azerbaijani banks concluded 3,761 transactions worth 101.8 billion manats on the Bloomberg platform in 2024, the Central Bank of Azerbaijan (CBA) reported.

In the interbank REPO market, 723 transactions totaling 11.5 billion manats were executed.

According to the CBA, 97% of these transactions had maturities of 1–3 days.

Compared to 2023, the volume of transactions on the Bloomberg platform rose by 3.3 times, while the REPO market volume increased 2.5 times.

Throughout the year, average interest rates in the unsecured money market remained within the CBA’s interest rate corridor. In December 2024, the average interbank overnight rate (1D AZIR) stood at 7.68%. The spread between 1D AZIR and the refinancing rate averaged 0.43 percentage points over the year.

The CBA noted that changes in the 1D AZIR index have started to affect deposit rates, indicating improved interest rate pass-through. Communication regarding interbank money market rates was also strengthened during the year.