Azerbaijan's Central Bank to put up short-term notes for sale

By Trend

An auction for the placement of short-term notes of the Central Bank of Azerbaijan (CBA) worth 50 million manat ($29.4 million) will be held at Baku Stock Exchange (BSE) on Jan. 10 from 11:00 till 12:30 (GMT+4), Trend reports referring to the BSE.

According to BSE, notes at a par value of 100 manat ($58.8) each and a circulation period of 84 days will be put up for auction. The maturity date of the notes is April 6, 2020.

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

According to the requirements, each bank can submit no more than two bids: one competitive and one non-competitive.

($1 = 1.7 manat on Dec. 29)