Demand exceeds supply for Azerbaijani Central Bank’s notes

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, the BSE said in a message.

Demand at the auction exceeded the offer by 54.5 percent. Thus, demand at the auction amounted to 463.6 million manats, while average price per note - 99,3812 manats (8.01 percent).

The volume of notes placed at the auction amounted to 300 million manats.

The deadline for payments on the notes is October 3, 2018.

Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.

($1 = 1.7 AZN on Sept. 6)