By  Trend

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 300 million manats with a maturity period of 28 days, Trend reports referring to the BSE.

The demand at the auction exceeded the supply by 2.1 times - the banks applied for 618.12 million manats, the BSE said.

The deadline for payment on notes is Feb. 20, 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 Jan. 23)