Demand for notes of Azerbaijan’s Central Financial institution exceeds provide multifold

BAKU, Azerbaijan, Dec. 23

By Zeyni Jafarov – Pattern:

The Baku Inventory Alternate held an public sale on the position of short-term notes of the Central Financial institution of Azerbaijan (CBA) on December 23, 2020, Pattern stories citing the BSE.

The variety of notes was 150 million manat ($88 million), a circulation interval – 29 days.

Through the public sale, 16 traders submitted 26 orders within the value vary from 99.45 manat ($58.5) to 99.53 manat ($58.54).

In line with the CBA’s determination, the cut-off value of the bonds amounted to 99.53 manat ($58.54) and the weighted common value – 99.53 manat ($58.54). The full quantity of orders at nominal costs amounted to 841.5 million manat ($495 million).

The maturity date is January 21, 2021.

Brief-term notes are a financial coverage device for regulating the cash provide in circulation. Solely banks should purchase notes.

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Observe the writer on Twitter: @jafarov_zeyni