The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 200 million manats with a maturity period of 29 days, Trend reports referring to the BSE.
The demand at the auction exceeded the supply by more than 3 times as 16 investors filed 22 applications for 727.69 million manats, the BSE said.
The cut-off price for competitive bids was set at 99.4787 manats (6.51 percent), the weighted average price was also 99.4787 manats (6.51 percent). The volume of notes placed at the auction amounted to 200 million manats.
The deadline for payment on notes is July 24, 2019.
The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.