The State Oil Fund of the Azerbaijan Republic (SOFAR) announced the acquisition of the first tranche of Russian rubles.
According to an official of SOFAR, October 19, the Fund purchased 3 billion rubles ($ 100 million). I.e. the Oil Fund of Azerbaijan placed 3 billion in short-term deposits in the Russian Gazprombank.
The Fund noted that they further mean increase in investment in financial instruments in Russian rubles.
Note that SOFAR in July 2012 purchased 800 million Turkish liras ($ 400 million), which were placed in the form of deposits with leading banks in Turkey, at a rate of 8-10% per annum. Commenting on the report, the executive director of the Fund Shahmar Movsumov told reporters that SOFAR plans to direct the same amount to the purchase of Russian rubles.
Recall that in the summer of this year, the Fund acquired 200 million Australian dollars that have been invested in Australian government bonds.-0--
Economics
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