CBA issues notes worth nearly $2 bln in 2013

Business Materials 19 February 2014 18:46 (UTC +04:00)

Baku, Azerbaijan, Feb. 19

By Abbas Akhundov - Trend:

Central Bank of Azerbaijan (CBA) issued notes worth 1.53 billion manats in 2013 as part of its sterilization operations, according to the bank's report on monetary policy for late 2013, posted on the bank's website on Wednesday.

Out of them, the notes worth 300 million manats were placed for sale to commercial banks and at auction.

"At the last auction, the average yield on the notes was 1.06 percent, whereas in early 2013, this figure stood at 1.87 percent," according to the report.

The volume of notes in circulation amounted to 20 million manats, according to stats for late 2013.

The official exchange rate for February 19 is 0.7844 AZN/USD.

Translated by E.A.

Edited by C.N.