An auction for the placement of short-term notes of the Central Bank of Azerbaijan (CBA) worth 170 million manat ($100.204 million) will be held at Baku Stock Exchange (BSE) on Oct. 16 from 11:00 till 12:30 (GMT+4), Trend reports referring to the BSE.
According to BSE, notes at a par value of 100 manat ($58.94) each and a circulation period of 28 days will be put up for auction. The maturity date of the notes is Nov. 14, 2019.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain the notes.
According to the requirements, each bank can submit no more than two bids: one competitive and one non-competitive.
($1 = 1.7 manat on Oct. 15)
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