Azerbaijan’s Central Bank to auction notes worth 250M manats

Mon 20 August 2018 15:04 GMT | 19:04 Local Time

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An auction for placement of short-term notes worth 250 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on Aug. 24, the BSE said Aug. 20.

According to the message, 2.5 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is Sept. 19, 2018, Trend reports.

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

Under new requirements, each bank can submit a maximum of two applications – one competitive and one non-competitive.

(1.7 manats = $1 on Aug. 20)

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