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Azerbaijan’s Central Bank issues notes for nearly $1 billion

Business Materials 15 August 2013 19:09 (UTC +04:00)

Azerbaijan, Baku, August 15 /Trend A.Akhundov /

In January-June 2013 the Central Bank of Azerbaijan (CBA) has issued notes in the amount of 750 million manats as a part of sterilization operations, the Central Bank's monetary policy report on the results of the first half of 2013 said on Monday

According to the report, out of these notes, those amounting to some 180.1 million manats were put up for auction and placed.

"At the last auction the average profitability on the notes amounted to 1.2 percent, whereas in the beginning of the year this figure was at 1.87 percent," the statement said.

As of July 1, the volume of notes in circulation amounted to 15 million manats.

The volume of repo operations with notes amounted to 43.1 million manats by the end of half-year.

The official exchange rate for August 15 is 0.7845 AZN/USD.

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