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.
