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, Trend reports referring to the BSE.

The demand at the auction exceeded the supply by more than twofold - the banks applied for 660.08 million manats, the BSE said.

The deadline for payment on notes is Feb. 27, 2019.

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 Jan. 30)