Demand exceeds supply for Azerbaijani Central Bank’s notes
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By Trend
The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 300 million manats with a maturity period of 28 days, the BSE said in a message.
The demand at the auction exceeded the supply by 3.74 times - the banks applied for 1.12 billion manats, the message said.
The volume of notes placed at the auction amounted to 300 million manats.
The deadline for payment on notes is November 28, 2018.
The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.
(1.7 manats = $1 on Nov. 1)
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