Azerbaijani banks obtain Central Bank’s notes worth 350M manats

By  Trend

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 350 million manats with a maturity period of 28 days, the BSE said in a message on December 27.

The message says that the demand almost coincided with the supply – banks applied for 348.34 million manats at par value.

The deadline for payments on the notes is January  24, 2018.

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

(1.7001 AZN = 1$ on December 27)