By  Trend

On June 20, the Baku Stock Exchange (BSE) will hold an auction to place short-term notes of the Central Bank of Azerbaijan worth 300 million manats, the BSE announced.

Three million notes at a par value of 100 manats each, and with a maturity period of 28 days will be put up for sale at the auction. The maturity date of the notes is July 18, 2018.

Short-term notes are a monetary policy instrument to regulate the money supply in circulation. Only banks can purchase notes.

According to the requirements, each bank can submit no more than two applications - one competitive and one non-competitive.

(1.7 AZN = 1 USD on June 15)