Baku, Azerbaijan, Dec. 2
Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $301.5 million in November through foreign exchange auctions held by the Central Bank of Azerbaijan (CBA), SOFAZ said in a message Dec. 2.
In October, SOFAZ sold $371 million, while, on the whole, Azerbaijani banks bought $4.67 billion from SOFAZ since early 2016.
SOFAZ will continue to sell foreign currency through auctions until late 2016.
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.