BAKU, Azerbaijan, June 1
By Nargiz Ismayilova – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $334 million in foreign exchange auctions in May 2020, Trend reports citing SOFAZ on June 1.
SOFAZ sold $300.2 million at foreign exchange auctions organized by the Central Bank of Azerbaijan (CBA) In January 2020, $543.4 million - in February 2020, $1.9 billion - in March 2020, and $531.1 million - in April 2020.
In general, SOFAZ sold $3.6 billion through foreign exchange auctions from January through May 2020, which is 36.1 percent more compared to the same period of 2019.
Currency sale is carried out within the framework of SOFAZ’s transfers to the state budget of Azerbaijan, which are envisaged for 2020 in the amount of 11.3 billion manat ($6.6 billion).
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