TODAY.AZ / Business

Demand for CBA's notes exceeds supply

07 December 2017 [11:45] - TODAY.AZ

By  Trend

The Baku Stock Exchange (BSE) held an auction on placement of short-term notes of Azerbaijan’s Central Bank (CBA) in the amount of 250 million manats with a maturity of 29 days, BSE said.

The demand during the auction exceeded supply by almost two times – banks submitted applications for 464.83 million manats. The entire amount put up for auction was sold.

The applications were submitted at the price of 99.19 manats (with a yield of 10.14 percent) and 99.2004 manats (10.01 percent).

The deadline for the payment on notes is Jan. 4, 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 December 7)


Print version

Views: 1235

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: