Central Bank Buys $ 40 Million from SOFAZ
Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan has sold $ 45.6 million. According to SOFAZ, it has been recently exposing not $ 100 million, as it did before, but half the amount.
Seven banks attended the last auction, including the Central Bank itself, which bought $ 40 million. In general, in April, SOFAZ sold about $ 300 million.
According to the Fund management, the sale of foreign currency will continue during 2016. Implementation of foreign currency sale is carried out by the Fund in the framework of the state budget transfers allocated for this year in the amount of $ 7 billion 615 million AZN. By January 1, SOFAZ assets amounted to $ 33.57 billion (minus 9.5% to early 2015). --17D-
Economics
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