SOFAZ sold $80 mln to 21 banks
11.04.2016 17:12
The Central Bank of Azerbaijan has held the next currency auction on April 11.
The State Oil Fund of Azerbaijan (SOFAZ) put $100mln for sale. $80mln of this amount was sold to 21 banks. SOFAZ will continue selling currencies at the auctions.
The foreign currency is sold as part of SOFAZ's transfers to the Azerbaijani state budget, which are envisaged to stand at 7.615 billion Azerbaijani manats in 2016.
SOFAZ was established in 1999 with assets of $271 million.
As of January 1, 2016, SOFAZ assets reduced by 9.5 per cent compared to 2014 ($37.1 billion) and were estimated at $33.57 billion.
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