Baku Stock Exchange holds auction for placement of CBA's short-term notes
BAKU, Azerbaijan, Nov. 11
By Zeyni Jafarov - Trend:
The Baku Stock Exchange (BSE) held an auction on placement of short-term notes of the Central Bank of Azerbaijan (CBA) in the amount of 100 million manat ($58.8 million) on November 11, 2020, Trend reports citing the BSE.
The term of maturity is 28 days.
During the auction, 12 investors filed 20 bids in the price range from 99.497 manat ($58.53) with a yield to maturity (YTM) of 6.49 percent to 99.53 manat ($58.54) with a YTM of 6.01 percent.
According to the decision of the CBA, the cut-off price of bonds amounted to 99.53 manat (6.01 percent), and the weighted average price - 99.53 manat (6.01 percent). The total amount of orders at nominal prices amounted to 462.07 million manat ($271.81 million).
The maturity date is December 9, 2020.
Short-term notes are a monetary policy instrument for regulating the money supply in circulation. Only banks can buy notes.
(1 USD = 1.7 manat on Nov. 11)