Central Bank Placed Short-term Notes in Amount of AZN 50 Million

Azerbaijan’s Central Bank has placed on the auction short-term notes in the amount of 50 million manat, the Baku Stock Exchange.

Three investors submitted 7 bids at the nominal value of 64 million 236.3 thousand manat.

The orders were submitted in the price range AZN 98.8475 (14.9906% yield) and AZN 98.9228 (14.0005%).

Price cut on the notes from the Central Bank was set at AZN 98.8483 (14.9801%) and weighted average price - AZN 98.8687 (14.7117%).

Maturity of the bonds is November 30, 2016.

As previously reported, the Financial Markets Supervision House registered by the Central Bank issued 6 million short-term notes at par value of 100 manat each, and 500 thousand short-term notes at par value of 100 manat each.

Note that this is not the only anti-inflationary instrument used by the Central Bank of Azerbaijan. Since June 2016 the Central Bank also conducts deposit auctions.

Only in October the Central Bank by 5 deposit auctions attracted a whole of 300.6 million manat.    -----71D