Azerbaijani banks get central bank’s notes for over 140M manats

By  Trend

The Baku Stock Exchange (BSE) held an auction on placement of short-term notes of Azerbaijan’s Central Bank (CBA) in the amount of 300 million manats with a maturity of 28 days, BSE said Dec. 13.

The demand during the auction was twofold less than supply – banks submitted applications for 147.36 million manats.

The applications were submitted at the price of 98.8472 manats (with a yield of 14.99 percent) and 99.2278 (10.01 percent).

The deadline for the payment on notes is Jan. 10, 2018.

Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.

(1.7001 AZN = 1$ on Dec. 13)