Demand for notes of Azerbaijan's Central Bank exceeds supply multifold
BAKU, Azerbaijan, Dec.16
By Zeyni Jafarov - Trend:
The Baku Stock Exchange held an auction on the placement of short-term notes of the Central Bank of Azerbaijan (CBA) on December 16, 2020, Trend reports citing the BSE.
The number of notes was 200 million manat ($117.6 million), a circulation period - 28 days.
During the auction, 15 investors submitted 26 orders in the price range from 99.5 manat ($58.52) (6.49 percent) to 99.53 manat ($58.54) (6.01 percent).
According to the CBA's decision, the cut-off price of the bonds amounted to 99.53 manat ($58.54) (6.01 percent), and the weighted average price was the same. The total amount of orders at nominal prices amounted to 895.5 million manat ($526.7 million).
The maturity date is January 13, 2021.
Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can buy notes.
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