Demand exceeds supply at Azerbaijani Central Bank’s auction

By  Trend

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 150 million manats with a maturity period of 28 days, the BSE said in a message April 5.

The message says that the demand exceeded the supply by over 5 times – banks applied for 788.035 million manats.

The deadline for payments on the notes is May 2, 2018.

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

(1.7 AZN = $1 on April 5)