Central Bank of Azerbaijan issues notes worth $1.4 bln in 2013

Business Materials 7 November 2013 18:00 (UTC +04:00)

Baku, Azerbaijan, Nov. 7

By Emin Aliyev - Trend: The Central Bank of Azerbaijan (CBA) issued notes worth 1.1 billion manat as part of its sterilization operations from January- September 2013. Notes worth 279 million manat were put up for auction and placed, the Central Bank of Azerbaijan's report on monetary policy as of the first three quarters of 2013 said on Thursday.

"At the last auction the average yield on the notes was 1.13 percent, while the index was 1.87 percent in early 2013," a statement said.

As of October 1, the volume of notes in circulation amounted to 15 million manat. The volume of repo transactions with notes amounted to 48 million manat by the end of the third quarter.

The official exchange rate is 0.7843 AZN/USD on Nov. 7.