Demand exceeds supply for Azerbaijani Central Bank’s notes

By  Trend

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 200 million manats with a maturity period of 28 days, Trend reports referring to the BSE.

The demand at the auction exceeded the supply by 2.6 times as the banks applied for 515.57 million manats, the BSE said.

The deadline for payment on notes is March 13, 2019.

The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.

(1 USD = 1.7 AZN on Feb. 13)