Demand exceeds supply for Azerbaijani Central Bank’s notes

Trend:

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 250 million manats with a maturity period of 28 days, the BSE said in a message Aug. 25.

Demand at the auction exceeded the offer by more than 47.2 percent. Thus, demand at the auction amounted to 368.12 million manats, while average price per note - 99,44251 manats (8.01 percent).

The volume of notes placed at the auction amounted to 250 million manats.

The deadline for payments on the notes is September 19, 2018.

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

($1 = 1.7 AZN on August 25)