Baku, Azerbaijan, Feb. 2
By Anvar Mammadov – Trend:
An auction on the placement of short-term notes with total amount of 50 million manats (1.92 AZN/USD on Feb. 2) of Azerbaijan’s Central Bank was held at the Baku Stock Exchange (BSE), said the BSE Feb. 2.
The bonds’ maturity is 28 days, according to the BSE.
Five investors applied for notes worth almost 30 million manats.
The applications were within the price range of 98.8848 manats (with a yield of 14.4999 percent) and 99 manats (12.987 percent).
Stop-out price on competitive bids was 98.8848 manats (with a yield of 14.4999 percent) and the weighted average price was 98.9322 manats (13.8770 percent).
The deadline for the payment on bonds is March 1, 2017.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.