(MENAFN- Trend News Agency) Baku, Azerbaijan, June 5
By Kheyraddin Nasirzade – Trend:
An auction for placement of short-term notes worth 100 million manats and with maturity period of 29 days of Azerbaijan's Central Bank was held at the Baku Stock Exchange (BSE),Trendreports referring to BSE.
The demand during the auction exceeded the supply by almost 5.7 times. Fifteen investors made 19 applications worth 571.46 million manats.
Stop-out price on competitive bids was 99.4587 manats (6.76 percent) and the weighted average price was 99.4587 manats (6.76 percent).
The volume of the notes placed at the auction amounted to 100 million manats.
The deadline for the payment is July 3, 2019.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
(1.7 AZN = 1 USD on June 5)
----
Follow the author on Twitter:@1nasirzade
MENAFN0506201901870000ID1098610698
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.