Baku Stock Exchange auctions off Central Bank's short-term notes
BAKU, Azerbaijan, Jan. 8
By Zeyni Jafarov – Trend:
The Baku Stock Exchange (BSE) held an auction on placement short-term notes of the Central Bank of Azerbaijan (CBA) on January 8, Trend reports citing the BSE.
The number of notes was 150 million manat ($88.2 million) with a circulation period of 84 days.
During the auction, 13 investors submitted 19 orders in the price range from 97.72 manat or $57.48 (10 percent) to 98.87 manat or $58.15 (4.89 percent).
According to the decision of the CBA, the cut-off price of the bonds amounted to 98.62 manat or $58.01 (6 percent), and the weighted average price – 98.69 manat or $58.05 (5.69 percent). The total amount of orders at nominal prices amounted to 442.5 million manat ($260.2 million).
The maturity date is April 2, 2021.
Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can acquire notes.
(1 USD = 1.7 AZN on Jan. 8)