Central Bank of Azerbaijan to put notes up for sale

By  Trend

An auction will be held at the Baku Stock Exchange (BSE) for placing short-term notes of the Central Bank of Azerbaijan for 300 million manats on March 19, 2019, Trend reports referring to the BSE.

Some 3 million securities with par value of 100 manats each, and a circulation period of 29 days, will be put up for auction. The maturity date of the notes is April 17, 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.

According to the requirements, each bank can submit no more than two applications - one competitive and one noncompetitive.

($1=1.7 AZN on March 18)