Baku Stock Exchange holds auction for Central Bank's notes

9 September 2020 18:40 (UTC+04:00)

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The Baku Stock Exchange (BSE) held an auction on placement of 200 million manats ($117.6 million) worth of short-term notes of Central Bank of Azerbaijan (CBA) with the maturity of 28 days, Trend reports on Sept.9 referring to BSE.

During the auction for placing bonds, 15 investors filed 26 bids for an amount of 99.51 manats or $58.54 (6.26 percent). The total amount of the bids on nominal prices made up 806.9 million manats ($474.6 million).

According to CBA’s decision, the cut-off price of bonds and the weighted average price amounted to 99.51 manats. The deadline for payment is October 7, 2020.

Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.

Baku Stock Exchange cooperates with several leading international financial institutions. In light of the integration of the Azerbaijani economy to the global economy, effective management of capital markets following modern requirements, application of international standards, as well as the establishment of international relations with leading stock exchanges and financial institutions is of great importance for the Baku Stock Exchange.

(1 USD = 1.7 manat on Sept.9)

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