BAKU, Azerbaijan, April 19. Some 70 percent of the foreign currency portfolio of the State Oil Fund of Azerbaijan (SOFAZ) was distributed in US dollars from January through March 2022, Trend reports via SOFAZ.
According to the fund, 19.5 percent of the portfolio was distributed in euro, 4.8 percent in the British pound, 0.6 percent in the Australian dollar, 0.4 percent in Turkish lira, 0.3 percent in the Russian ruble, 1.3 percent in Chinese yuan, 1.1 percent in Japanese yen and two percent in other currencies.
The fund's total investment portfolio in the first quarter of this year amounted to $45.2 billion.
SOFAZ was established in 1999 when its assets amounted to $271 million. Proceeding from the regulation on SOFAZ, its funds can be used for the construction and reconstruction of strategically important infrastructure facilities, as well as for solving important national problems.