Demand for Azerbaijani Central Bank's notes greatly exceeds supply

Wed 16 Oct 2019 16:31 GMT | 20:31 Local Time

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Baku Stock Exchange (BSE) held an auction for placement of the notes of the Central Bank of Azerbaijan (CBA) worth 170 million manat, Trend reports referring to BSE.

The demand at the auction exceeded the supply by more than three times, as 14 investors filed 24 applications worth 547.249 million manat.

The cut-off price for competitive bids was set at 99.5158 manat (6.26 percent), the weighted average price was also 99.5158 manat (6.26 percent). The volume of notes placed at the auction amounted to 170 million manat.

The deadline for payment is Nov. 14, 2020.

(1 USD = 1.7 AZN on Oct. 16)

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