Azerbaijan's Central Bank to auction short-term notes

By Trend

An auction for placement of short-term notes of Azerbaijan's Central Bank (CBA) worth 200 million manats will be held at Baku Stock Exchange (BSE) on Sept. 11, Trend reports referring to BSE.

According to BSE, the notes at a par value of 100 manats each and a maturity period of 28 days will be put up for the auction. The maturity date of the notes is Oct. 9, 2019.

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

According to the requirements, each bank can submit no more than two bids: one competitive and one noncompetitive.

(1 USD = 1.7 AZN on Sept. 10)