Azerbaijan’s Central Bank to auction notes worth 250M manats

By  Trend

On Nov. 14, the Baku Stock Exchange (BSE) will hold an auction to place short-term notes of the Central Bank of Azerbaijan worth 250 million manats, the BSE announced.

Two and half 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 December 12, 2018.

Under requirements, each bank can submit maximum two applications – one competitive and one noncompetitive.

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

(1 USD = 1.7 AZN on Nov. 14)