BAKU, Azerbaijan, September 23. Azerbaijan’s
banking sector structural liquidity surplus reached 6.3 billion
manats ($3.7 billion) at the end of August 2026, increasing 2.2
times compared with December 2025, the Central Bank of Azerbaijan
(CBA) said.
The structural liquidity surplus, excluding funds required to be
held as mandatory reserves, represents the difference between the
CBA’s liabilities to the banking system and its claims on
banks.
The CBA said benchmark rates in the unsecured money market have
tended to decline somewhat amid the liquidity surplus.
The average daily AZIR rate stood at 6.39% in July 2026, 6.28%
in August and 6.02% in the period of September through the date of
the report.
Monetary policy instruments are applied taking into account
developments in financial markets and liquidity indicators in the
banking system.
The CBA mainly uses seven-day deposit operations to manage
liquidity. These operations accounted for 70.8% of the
sterilization portfolio under open market operations at the end of
August.
Meanwhile, the volume of the CBA’s note portfolio increased more
than fourfold by the end of August compared with the end of last
year.
