According to the message, 3 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction. The maturity date of the notes is Sept. 12, 2018.
Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.
Under new requirements, each bank can submit maximum two applications – one competitive and one noncompetitive.
(1.7 manats = $1 on Aug. 14)
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