Information by the Central Bank

02-05-2023

2 May 2023, Baku: The Central Bank begins to publish daily on its official website the AZIR (Azerbaijan Interbank Rate) indexes for various periods, reflecting the average weighted interest rate on transactions concluded in the national currency between banks in the unsecured market. These indexes are calculated in accordance with the “Regulations on Calculation and Publication of Benchmark Rate  (AZIR – Azerbaijan Interbank Rate) in the Unsecured Interbank Money Market” approved by the Management Board of the Central Bank.

When calculating AZIR indexes, transactions concluded in the national currency between commercial banks operating in the Republic of Azerbaijan through the Bloomberg trading platform are used. Along with the percentage indicators, the amount and number of eligible transactions will be announced on the website of the Central Bank.

The Central Bank uses the AZIR indexes as one of the indicators to assess the effectiveness of monetary policy in achieving operational goals. Market participants can use the AZIR index as a reference interest rate when entering into various transactions on the financial market.