CBA Buys $ 10 Million from SOFAZ

Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan sold $ 40 million to three financial institutions. According to SOFAZ, since April it has exposed not $ 100 million, as before, but half the amount.

The latest auction was attended by 4 banks, including the Central Bank itself, which bought $ 10 million. In general, in May, SOFAZ has sold about $ 382 million.

According to the Fund management, the sale of foreign currency will continue during 2016. Implementation of foreign currency sale by the Fund is carried out in the framework of transfers to the state budget allocated for this year in 7 billion 615 million AZN. By January 1, SOFAZ assets amounted to $ 33.57 billion (minus 9.5% to early 2015). --17D-

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