Since early this year State Oil Fund of Azerbaijan (SOFAZ) has actively joined sale of currency at the local market.
SOFAZ press office reported that on March 11, 2016 SOFAZ sold currency to a total amount of $68.4 million through the auction.
“$200 million has been put up for sale and $68.4 million has been sold to 25 banks,” SOFAZ said.
During March 2016 SOFAZ sold $368.1 million to the banks at five auctions.
Since early year SOFAZ has also $1,145,600,000 through the auctions at the local markets, of which $600 million in January and $177.5 million in February.-0—‘
Economics
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