The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 300 million manats with a maturity period of 28 days, the BSE said in a message.
Demand at the auction exceeded the offer by 54.5%. Thus, demand at the auction amounted to 463.6 million manats, while average price per note – 99,3812 manats (8.01%).
The volume of notes placed at the auction amounted to 300 million manats.
The deadline for payments on the notes is October 3.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes. (Trend/Business World Magazine)