BAKU, Azerbaijan, Aug.23
By Zeyni Jafarov - Trend:
The forecast on consumer price index in Azerbaijan as of late 2021 has been adjusted towards the increase of target range, given the influence of expenditure factors, Seymur Ibadov, head of the research and investment consulting department of Unicapital OJSC, told Trend on Aug. 23.
According to Ibadov, it’s predicted that inflation in the coming months in the country will be relatively stable.
"Moreover, the improvement in the balance of payments indicators will neutralize the impact of rising prices in the world food market on inflation in Azerbaijan, and thus has a positive effect on the stability of the foreign exchange market," he said.
Referring to the current state of the domestic capital market, the expert noted that at the latest auction on the placement of medium-term bonds of the Azerbaijani Ministry of Finance at the stock exchange in Baku, demand notably exceeded supply.
So, 12 investors filed 23 bids with a yield to maturity of 5.75-7.1 percent. As a result, 15 million manat ($8.8 million) with an average yield to maturity of 5.79 percent was placed.
Ibadov added that an auction on the placement of another tranche of medium-term bonds of the Azerbaijani Ministry of Finance is scheduled for August 24 at the stock exchange in Baku while the envisaged volume on orders is 10 million manat ($5.9 million).
If the demand for the state bonds during the trading exceeds the supply and an issuer is pleased with the price, the volume of offered bonds can be increased up to 50 percent.
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