Cost of CBA notes falls below 1B manats

The value of notes of the Central Bank of Azerbaijan (CBA) in circulation fell below 1 billion manats ($588.235 million) for the first time since December 29, 2021, Report informs.

The total cost of notes decreased by 10.8% compared to February 24 and amounted to 915 million manats ($538.235 million).

The CBA has been pursuing a new monetary policy since September 1 last year. The regulator issued 84-, 168- and 252-day notes into circulation. The bonds currently yield 7.95%, 8.57% and 9.29%, respectively.