The demand at the auction exceeded the supply by more than five times, as 16 investors filed 26 applications worth 521.021 million manats.
The cut-off price for competitive bids was set at 99.5158 manats (6.26 percent), the weighted average price was also 99.5158 manats (6.26 percent). The volume of notes placed at the auction amounted to 100 million manats.
The deadline for payment is Oct. 24, 2019.
The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire the notes.
(1 USD = 1.7 AZN on Sept. 20)
