Demand at the auction exceeded the supply by 2.4 times. Thus, demand at the auction amounted to 603.53 million manats, while average price per note – 99.3812 manats (8.01 percent).

The volume of notes placed at the auction amounted to 250 million manats

The deadline for payments on the notes is July 25, 2018.

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

(1.7 manats = $1 on June 27)

Masaim Abdullayev,

“Khalq qazeti”