Demand for Azerbaijani Central Bank’s notes exceeds supply

By Trend

An auction for placement of short-term notes worth 100 million manats and with maturity period of 29 days of Azerbaijan’s Central Bank was held at the Baku Stock Exchange (BSE), Trend reports referring to BSE.

The demand during the auction exceeded the supply by almost 5.7 times. Fifteen investors made 19 applications worth 571.46 million manats.

Stop-out price on competitive bids was 99.4587 manats (6.76 percent) and the weighted average price was 99.4587 manats (6.76 percent).

The volume of the notes placed at the auction amounted to 100 million manats.

The deadline for the payment is July 3, 2019.

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

(1.7 AZN = 1 USD on June 5)