The Baku Stock Exchange (BSE) held a regular auction to place short-term notes of the Central Bank of Azerbaijan (CBA) for 350 million manats with a circulation period of 28 days, Trend reports referring to the BSE.
The demand during the auction exceeded the supply by more than twice, as banks applied for 848 million manats.
Short-term notes are an instrument of monetary policy for regulating the money supply in circulation. The notes can be acquired only by banks.
(1 USD = 1.7 AZN on Feb. 11)
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