Demand exceeds supply for Azerbaijani Central Bank’s notes
Baku, Azerbaijan, Feb. 28
By Heyraddin Nasirzade – Trend:
The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 300 million manats with a maturity period of 28 days, Trend reports referring to the BSE.
The demand at the auction exceeded the supply by 2.85 times as the banks applied for 853.5 million manats, the BSE said.
The deadline for payment on notes is March 27, 2019.
The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.
(1.7 AZN = 1 USD on Feb. 28)