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

Mon 20 Aug 2018 11:04 GMT | 15:04 Local Time

Text size: bigger smaller

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)




Most read articles

More from Economy

In The Region

Editor's Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate

Virtual karabakh