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Sale of US dollars to banks by SOFAZ up

Business Materials 5 July 2018 16:29 (UTC +04:00)
The State Oil Fund of Azerbaijan (SOFAZ) sold $439 million at the currency auctions organized by the country’s Central Bank (CBA) in June 2018, SOFAZ said July 5.
Sale of US dollars to banks by SOFAZ up

Baku, Azerbaijan, July 5

By Anvar Mammadov – Trend:

The State Oil Fund of Azerbaijan (SOFAZ) sold $439 million at the currency auctions organized by the country’s Central Bank (CBA) in June 2018, SOFAZ said July 5.

SOFAZ sold $422.7 million in May.

Since early 2018, the Azerbaijani banks bought around $3 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.

Follow the author on Twitter: @Anvar_Mammadov

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