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Demand for notes of Azerbaijani Central Bank significantly exceeds supply

Finance Materials 21 January 2021 13:10
Demand for notes of Azerbaijani Central Bank significantly exceeds supply

BAKU, Azerbaijan, Jan.21

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 January 21, 2021, Trend reports citing the BSE.

The number of notes was 200 million manat ($117.6 million), circulation period - 27 days.

During the auction, 17 investors submitted 28 orders in the price range from 99.53 manat or $58.55 (6.24 percent) to 97.57 manat or $57.39 (5.76 percent).

According to the CBA's decision, the cut-off price of the bonds and the weighted average price were also 97.57 manat (5.76 percent). The total amount of orders at nominal prices amounted to 864.2 million manat ($508.3 million), thus topping supply by over 4 times.

The maturity date is February 17, 2021.

Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can buy notes.

(1 USD = 1.7 AZN on Jan.21)

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