Azerbaijan’s Central Bank to auction short-term notes

By  Trend

An auction for placement of short-term notes worth 150 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on October 11, the BSE said in a message on October 10.

According to the message, 1.5 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is November 8, 2017.

Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.

Under new requirements, each bank can submit maximum two applications – one competitive and one noncompetitive.

(1.7002 AZN = $1 on October 10)