...

Azerbaijani SOFAZ unveils volume of foreign currency sold at auctions during February

Oil&Gas Materials 1 March 2021 17:56 (UTC +04:00)
Azerbaijani SOFAZ unveils volume of foreign currency sold at auctions during February

BAKU, Azerbaijan, March 1

By Fidan Babayeva – Trend:

The State Oil Fund of Azerbaijan (SOFAZ) sold $437.3 million at foreign exchange auctions in February 2021, Trend reports citing the SOFAZ.

According to the SOFAZ, the mentioned figure in January 2020 was $644.9 million.

The sale of currency is carried out within SOFAZ transfers to the state budget of Azerbaijan, which for 2020 were provided in the amount of over 11.3 billion manat ($6.64 billion).

By the decree of the President of Azerbaijan dated August 31, 2020, changes were made to the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2020.

According to the decree, the item of expenditure on the upper limit of transfers to the state budget of Azerbaijan for 2020 has been increased from 11.4 million manat ($6.7 million) to 12.2 million manat ($7.17 million).

(1 USD = 1.7 AZN on March 1)

---

Follow the author on Twitter: @Fidan_Babaeva

Tags:
Latest

Latest