BAKU, Azerbaijan, Sept.2
By Zeyni Jafarov – Trend:
The Baku Stock Exchange (BSE) held an auction on placement of 150 million manats ($88.2 million) worth of short-term notes of Central Bank of Azerbaijan (CBA) with the maturity of 28 days, Trend reports referring to BSE.
During the auction for placing bonds, 15 investors filed 24 bids for an amount of 99.51 manats or $58.54 (6.26 percent). The total amount of the bids made up 590.4 million manats ($347.2 million).
According to CBA’s decision, the weighted average price was 99.51 manats. The volume of notes placed in the auction amounted to 150 million manats ($88.2 million).
The deadline for payment is September 30, 2020.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
Baku Stock Exchange cooperates with several leading international financial institutions. In light of the integration of the Azerbaijani economy to the global economy, effective management of capital markets following modern requirements, application of international standards, as well as the establishment of international relations with leading stock exchanges and financial institutions is of great importance for the Baku Stock Exchange.
(1 USD = 1.7 manat on Sept.2)
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