Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan sold $ 50 million to 23 financial institutions. According to SOFAZ, since April it has exposed not $ 100 million, as before, but half the amount.
The CBA was not involved directly in the latest auction. In June SOFAZ has sold about $ 100 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 state budget transfers allocated for this year as 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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