Demand for CBA notes exceeds supply by over three times

By  Trend

The Baku Stock Exchange (BSE) held a regular auction for placement of short-term notes of the Central Bank of Azerbaijan (CBA) worth 250 million manats with a circulation period of 28 days, BSE said.

The demand during the auction exceeded the supply 3.4 times - the banks applied for 845.5 million manats, the message says.

The deadline for payment on notes is November 14, 2018.

The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.

(1.7 AZN = 1 USD on October 17)