Central Bank of Azerbaijan puts short-term notes up for auction
The Baku Stock Exchange (BSE) held a new auction for short-term notes of the Central Bank of Azerbaijan (CBA), according to the BSE.
According to the BSE, during the auction, the CBA put up short-term notes worth 100 million manat ($58.8 million) with a circulation period of 28 days.
Some 19 investors filed 23 orders in the price range up to 99.55 manat or $58.55 (5.76 percent).
According to the CBA's decision, the cut-off price of the bonds and the weighted average price amounted to 99.55 manat or $58.55 (5.76 percent). The total amount of orders at nominal prices made up slightly over 1 billion manat ($590 million) while the volume of the placed notes is 100 million manat ($58.8 million) which shows the excess of demand over supply by more than 10 times.
The maturity date is September 8, 2021.
Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can buy the notes.
(1 USD = 1.7 AZN on Aug.11)