The Baku Stock Exchange (BSE) held an auction on placement of short-term notes of Azerbaijan’s Central Bank (CBA) in the amount of 150 million manats with a maturity of 28 days, BSE said.
The demand during the auction once again exceeded supply – banks submitted applications for 431.9 million manats. The entire amount put up for auction was sold.
The applications were submitted at the price of 99.2278 manats (with a yield of 10.01%).
The deadline for the payment on notes is November 8.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes. (Trend/Business World Magazine)
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