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Demand exceeds supply at Azerbaijani Central Bank’s auction

26 April 2018 [11:00] - TODAY.AZ

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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, the BSE said in a message April 25.

Demand at the auction amounted to 681.87 million manat, while average price per note - 99.3812 manat.

The deadline for payments on the notes is May 23, 2018.

The CBA started to hold deposit auctions in mid-June 2016. Deposit auction is an auction during which the deposits of commercial banks are placed in the CBA. The main aim of such auction is sterilization of money supply.

($1 = 1.7 AZN on April 25)

URL: http://www.today.az/news/business/169398.html

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