Azerbaijan’s Central Bank to auction short-term notes
By Trend
An auction for placement of short-term notes worth 250 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on November 1, the BSE said in a message on October 31.
According to the message, 2.5 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is November 29, 2017.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
Under new requirements, each bank can submit maximum two applications – one competitive and one noncompetitive.
(1.7002 AZN = $1 on October 31)
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