Sale of US dollars to banks by SOFAZ down

Business Materials 1 June 2018 13:05 (UTC +04:00)

Baku, Azerbaijan, June 1

By Azad Hasanli – Trend:

The State Oil Fund of Azerbaijan (SOFAZ) sold $422.7 million at the currency auctions organized by the country’s Central Bank (CBA) in May 2018, SOFAZ said June 1.

SOFAZ sold $802.6 million in April.

Since early 2018, the Azerbaijani banks bought over $2.5 billion from SOFAZ.

The currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged in the volume of 9.216 billion manats for 2018.


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