Baku, Azerbaijan, Jan. 6
By Anvar Mammadov – Trend:
An auction on the placement of short-term notes with total amount of five million manats (1.7742 AZN/USD on Jan. 6) of Azerbaijan’s Central Bank was held at the Baku Stock Exchange (BSE), said the BSE.
The bonds’ maturity is 27 days, according to the BSE.
Applications worth about 3.51 million manats for were submitted by two investors.
The applications were within the price range of 98.92 manats (with a yield of 14.5572 percent) and 98.94 manats (14.2847 percent).
Stop-out price on competitive bids was 98.92 manats (with a yield of 14.5572 percent) and the weighted average price was 98.9316 manats (14.3991 percent).
The deadline for the payment on bonds is Feb. 1, 2017.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.