Demand exceeds supply at Azerbaijani Central Bank’s deposit auction
Baku, Azerbaijan, Jan. 17
By Anvar Mammadov – Trend:
The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 250 million manats with a maturity period of 28 days, the BSE said in a message Jan. 17.
The message says that the demand exceeded the supply – banks applied for 290.96 million manats at par value.
The deadline for payments on the notes is Feb. 14, 2018.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
(1.7001 AZN = $1 on Jan. 17)