Demand exceeds supply at Azerbaijani Central Bank’s deposit auction
By Trend
The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 250 million manats with a maturity period of 28 days, the BSE said in a message on January 17.
The message says that the demand exceeded the supply – banks applied for 290.96 million manats at par value.
The deadline for payments on the notes is February 14, 2018.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
(1.7001 AZN = $1 on Jan. 17)
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