Demand exceeds supply for Azerbaijani Central Bank’s notes

By  Trend

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 supply by 28 percent. Thus, demand at the auction amounted to 383.6 million manats, while average price per note – 99.3451 manats (8.4756 percent).

The volume of notes placed at the auction amounted to 300 million manats.

The deadline for payments on the notes is Sept. 12, 2018.

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

(1.7 manats = $1 on Aug. 15)