The Baku Stock Exchange (BSE) held an auction on placement of 200 million manat ($117.6 million) worth short-term notes of the Central Bank of Azerbaijan (CBA) with a maturity of 28 days, Trend reports on Sept.9 referring to BSE.
During the auction, 15 investors filed 27 bids in the price range of 99.49 manat or $58.52 (6.49 percent) and 99.53 manat or $58.55 (6.01 percent). The total amount of the bids on nominal prices made up 947.6 million manat ($557.41 million).
According to CBA’s decision, the cut-off price of bonds and the weighted average price amounted to 99.53 manat. The deadline for payment is October 21, 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 a number of leading international financial institutions. In light of the integration of the Azerbaijani economy to the global economy, effective management of capital markets in accordance with 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 AZN on Sept.23)
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