Auction for placing Azerbaijani CBA's short-term notes held
BAKU, Azerbaijan, Oct.28
By Zeyni Jafarov – Trend:
The Baku Stock Exchange (BSE) held a regular auction on placement of short-term notes of Central Bank of Azerbaijan (CBA) with a maturity of 28 days, attracting 150 million manat ($88.2 million) from Azerbaijani banks, Trend reports referring to BSE.
During the auction, 13 investors filed 21 bids for a total nominal amount of 740.2 million manat ($435.4 million). Price offers varied within 99.53 manat or $58.5 (6.01 percent).
According to CBA’s decision, the cut-off price for competitive bids and the weighted average price were also set at 99.53 manat.
The deadline for payment is November 25, 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 a number of leading international financial institutions. In light of the integration of the Azerbaijani economy to the global economy, effective management of capital markets in accordance with 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 Baku Stock Exchange.
(1 USD = 1.7 manat on Oct.28)