An auction for placement of short-term notes worth 200 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on September 27, the BSE said.
Some 2 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is October 25.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
Under new requirements, each bank can submit maximum two applications – one competitive and one noncompetitive. (Trend/Business World Magazine)