Azerbaijani Central Bank to auction short-term notes

An auction for placement of short-term notes of Azerbaijan's Central Bank (CBA), worth 200 million manats, will be held at the Baku Stock Exchange (BSE) on July 24, Trend reports referring to the BSE.

According to the BSE, securities 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 August 21, 2019.

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

In accordance with the requirements, each bank can submit no more than two bids - one competitive and one noncompetitive.

($1= 1.7 manats on July 24)