Baku, Azerbaijan, Feb. 2
By Azad Hasanli – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $285 million in January 2017 at currency auctions organized by the Central Bank, SOFAZ said Feb. 2.
In December 2016, SOFAZ sold $246 million at currency auctions, and in total, Azerbaijani banks bought nearly $4.92 billion from SOFAZ in 2016.
The state oil fund will continue selling currency through auctions in 2017.
The currency sale is carried out as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged in the volume of 6.1 billion manats for 2017.