CBA considers current level of mortgage bonds optimal
Azerbaijan, Baku, May 27 / Trend N. Ismayilova /
The Central Bank of Azerbaijan (CBA) considers the level of mortgage bonds in circulation optimal. So, its raising is pointless, deputy chairman of the CBA Avtandil Babayev said. At present, two mortgage bonds of the Azerbaijan Mortgage Fund - worth 55 million manat, which were fully deployed, and 75 million manat (of which 38 million was placed) were registered.
"When more mortgage-backed securities appear on the market, if the money supply sees no need for this growth, the effect of currency issue can be created," Babayev said.
He said that successful treatment of mortgage bonds is connected with two factors.
On May 27, the official exchange rate is 0.8036 manat to $1.