Demand for CBA's notes exceeds supply by more than twofold
By Trend
The Baku Stock Exchange (BSE) today held an auction on placement of short-term notes of Azerbaijan’s Central Bank (CBA) in the amount of 200 million manats with a maturity of 28 days, BSE said.
The demand during the auction exceeded supply by more than two times – banks submitted applications for 540.47 million manats. The entire amount put up for auction was sold.
The applications were submitted at the price of 99.2278 manats (with a yield of 10.01 percent).
The deadline for the payment on notes is Nov. 22, 2017.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
(1.7002 manats = 1$ on Oct. 25)
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