Azerbaijan's Central Bank to auction short-term notes

Azerbaijan's Central Bank to auction short-term notes

Economy
17 September 2019, 18:04 34
An auction for placement of short-term notes of Azerbaijan's Central Bank (CBA) worth 170 million manats will be held at Baku Stock Exchange (BSE) on Sept. 18 from 11:00 till 12:30 (GMT+4), Trend reports referring to BSE.
According to BSE, the notes at a par value of 100 manats each and a maturity period of 28 days will be put up for the auction. The maturity date of the notes is Oct. 16, 2019.
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 noncompetitive.