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Baku Stock Exchange holds auction on placement of short-term notes of CBA

Finance Materials 15 January 2021 13:56
Baku Stock Exchange holds auction on placement of short-term notes of CBA

BAKU, Azerbaijan, Jan. 15

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 Jan. 15, 2021, Trend reports citing the BSE.

The number of notes was 100 million manat ($58 million), a circulation period - 168 days.

During the auction, 10 investors submitted 16 orders in the price range from 96.62 manat ($56.83) which’s 7.5 percent to 97.39 manat ($57.28) which’s 5.74 percent.

According to the CBA's decision, the cut-off price of the bonds amounted to 97.39 manat ($57.28) which’s 5.75 percent, and the weighted average price – 97.39 manat ($57.28) that’s 5.75 percent. The total amount of orders at nominal prices amounted to 293.08 million manat ($172.4 million) while the volume of the placed notes – 120 million manat ($70.5 million).

The maturity date is July 2, 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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