Demand for Azerbaijani CBA's short-term notes exceeds supply
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By Trend
The Baku Stock Exchange (BSE) held a regular auction on placement of short-term notes of Central Bank of Azerbaijan (CBA) with maturity of 28 days, attracting 200 million manat ($117.6 million) from Azerbaijani banks on Oct.21, 2020, Trend reports referring to BSE.
As reported, during the auction the demand for the notes exceeded supply by 4 times; 16 investors filed 23 bids for a total nominal amount of 898.7 million manat ($528.6 million). Price offers varied between 99.49 manat or $58.5 (6.49 percent) and 99.53 manat or $58.54 (6.01 percent).
According to CBA’s decision, the cut-off price for competitive bids and the weighted average price were set at 99.53 manat or $58.54 (6.01 percent).
The deadline for payment is November 18, 2020.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain the notes.
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