Uzbek Ministry of Finance, Central Bank place securities for $7M on currency exchange
Baku, Azerbaijan, February 20
By Fakhri Vakilov - Trend:
Uzbek Central Bank alongside with the Ministry of Finance, held an auction to place government securities with a 12-month trading term on the Uzbek Currency Exchange on February 19, Trend reports via Uzbek media.
The nominal value of the securities is 1 million soums in the amount of 60,000 units and the total volume of output is 60.9 billion soums with quarterly interest payments.
The auction was attended by 8 dealers, who submitted competitive bids for the purchase of 122,039 bonds for a total of 123.3 billion soums.
At the maturity date (February 19, 2020), the total repayment amount of the GS placed at the auction will be 69 billion soums.
The weighted average yield of securities was 13.33 percent per annum, with a minimum yield of 12.20 percent and a maximum yield or at the cut-off price of 13.81 percent.
The Uzbek currency exchange was established on May 12, 1992 by order of the Cabinet of Ministers.
The purpose of Uzbek currency exchange is to organize and conduct exchange trading in the foreign exchange market, the market for government securities, derivative financial instruments and the money market.
($1=8341.95 soums on Feb. 20)
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