The demand at the auction exceeded the supply by 2.1 times - the banks applied for 618.12 million manats, the BSE said.
The deadline for payment on notes is Feb. 20, 2019.
The short-term notes are an instrument of monetary and credit policy for regulating the money stock in circulation. Only banks can acquire notes.
(1 USD = 1.7 AZN on Jan. 23)