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Number of currency auctions’ participants grows in Azerbaijan

Business Materials 23 November 2017 11:17 (UTC +04:00)
The number of banks taking part in currency auctions in Azerbaijan has grown five times, to 20
Number of currency auctions’ participants grows in Azerbaijan

Baku, Azerbaijan, Nov. 23

By Azad Hasanli – Trend:

The number of banks taking part in currency auctions in Azerbaijan has grown five times, to 20, first Deputy Chairman of the Central Bank of Azerbaijan (CBA) Alim Guliyev said Nov. 23 at the 2nd banking forum in Baku.

The currency auctions are organized by the CBA with the participation of the State Oil Fund of Azerbaijan (SOFAZ).

SOFAZ sold around $2.8 billion at the currency auctions in January-October 2017. In total, the Azerbaijani banks bought about $4.92 billion from SOFAZ in 2016.

The currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged in the volume of 6.1 billion manats for 2017.

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