BAKU, Azerbaijan, March 11
By Nargiz Ismayilova – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $543.4 million at foreign currency auctions in February 2020, which is 42 percent more than in February 2019, Trend reports on March 11 referring to SOFAZ.
In general, SOFAZ sold $300.2 million at foreign exchange auctions in January 2020.
The foreign currency is sold within SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged at 11.4 billion manat ($6.7 billion) for 2020.
The currency distribution of SOFAZ’s investment portfolio as of 2019 was formed as follows: 56.6 percent - the US dollar, 31.4 percent - Euro, 5.1 percent - the British pound while the rest - Australian dollar, Turkish lira, Russian ruble, Korean won, Chinese yuan, Japanese yen and other currencies.
In 2019, the SOFAZ’s assets increased from $38.5 billion to $43.3 billion, an increase of 12.5 percent. During the first two months of this year, SOFAZ’s assets also increased.
(1 USD = 1.7 AZN on March 11)
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