Demand for notes of Azerbaijan's Central Bank exceeds supply multifold
By Trend
The Baku Stock Exchange held an auction on the placement of short-term notes of the Central Bank of Azerbaijan (CBA) on December 23, 2020, Trend reports citing the BSE.
The number of notes was 150 million manat ($88 million), a circulation period - 29 days.
During the auction, 16 investors submitted 26 orders in the price range from 99.45 manat ($58.5) to 99.53 manat ($58.54).
According to the CBA's decision, the cut-off price of the bonds amounted to 99.53 manat ($58.54) and the weighted average price – 99.53 manat ($58.54). The total amount of orders at nominal prices amounted to 841.5 million manat ($495 million).
The maturity date is January 21, 2021.
Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can buy notes.
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