Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan sold $ 19.9 million.
According to SOFAZ, while it usually exhibited $ 100 million for sale, the last three times it exhibited half the amount.
The auction was attended by eight banks though earlier the number of buyers was 20 or more credit and financial institutions. In general, for two and a half weeks, SOFAZ has sold more than $ 220 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 the transfers to the state budget, amounting to $ 7 billion 615 million AZN this year.
By January 1, SOFAZ assets amounted to $ 33.57 billion (minus 9.5% to early 2015). --17D-
Economics
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