Baku Stock Exchange holds first auction in 2021on placement of Central Bank's notes
By Trend
The Baku Stock Exchange (BSE) held first in 2021 auction on placement short-term notes of the Central Bank of Azerbaijan (CBA) on January 6, Trend reports citing the BSE.
The number of notes was 250 million manat ($147 million) with a circulation period of 28 days.
During the auction, 16 investors submitted 27 orders in the price range from 99.52 manat or $58.54 (6.24 percent) to 99.55 manat or $58.55 (5.76 percent).
According to the decision of the CBA, the cut-off price of the bonds amounted to 99.55 manat (5.76 percent), and the weighted average price - 99.55 manat (5.76 percent).
The total amount of orders at nominal prices surpassed 1 billion manat ($588.2 million), thereby exceeding the supply by more than 4 times.
The maturity date is February 3, 2021.
Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can acquire notes.
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