Currency sales to banks in Azerbaijan surge sharply

In June 2024, the State Oil Fund (SOFAZ) sold $405.6 million at currency auctions of the Central Bank of Azerbaijan (CBA). This is reported by the Fund. According to the data, this is up by 5.15 times from the same period of 2023. However, last month, the SOFAR provided 69.8% of sales at currency auctions. The CBA itself auctioned $175.4 million of its foreign exchange reserves. Thus, monthly sales of currency to banks totalled $581 million...

Please login or subscribe to read more

Leave a review

Ad *

Your review *

Oxudum və razıyam Şərh göndərmə qaydaları

- Finance
- 3 July 2024 10:35
Foreign currencies rates fixed by Central Bank
- In World
- 3 July 2024 10:42
Ukraine not ready to compromise with Russia, says Zelenskiy aide

Finance

Finance
- 13 February 2025, 12:43
Azerbaijan to redeem part of domestic public debt ahead of schedule
Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.

Read more
Finance
- 13 February 2025, 11:53
Azerbaijan approves ‘Rules on Operational Risk Management in Banks’
The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.

Read more
Finance
- 13 February 2025, 11:22
Azerbaijan increases social insurance receipts by nearly 12%
In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.

Read more
Finance
- 13 February 2025, 11:07
Azerbaijan's revenues from export of insurance services decline by more than 23%
In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).

Read more