Azerbaijan’s Central Bank to raise 200M manats at auction
Baku, Azerbaijan, April 11
By Azad Hasanli – Trend:
An auction for placement of short-term notes worth 200 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on April 12, the BSE said.
According to the message, two million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is May 10, 2018.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
Under new requirements, each bank can submit maximum two applications – one competitive and one noncompetitive.
(1.7 manats = $1 on April 1)