Central Bank of Azerbaijan fails to sell all emission of 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 cut-off price on competitive bids was set at 99.3053 manats (8.99 percent), the weighted average price was 99.3851 manats (7.95 percent). The value of notes placed at the auction amounted to 167.3 million manats.

The deadline for payment on notes is May 8, 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.

(1.7 AZN = 1 USD on April 11)