Azerbaijan's State Oil Fund reveals data on its funds sold at foreign exchange auctions
BAKU, Azerbaijan, May 1
By Nargiz Ismayilova - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $531.1 million at foreign exchange auctions in April 2020, Trend reports citing SOFAZ.
In January 2020, SOFAZ sold $300.2 million at foreign exchange auctions organized by the Central Bank of Azerbaijan (CBA), in February 2020 – $543.4 million, and in March 2020 - $1.9 billion.
In general, SOFAZ sold $3.3 billion through foreign exchange auctions from January through April 2020, which is 40.2 percent more compared to the same period of last year.
Currency sale is carried out within SOFAZ’s transfers to the state budget of Azerbaijan, which are envisaged for 2019 in the amount of 11.6 billion manat ($6.8 billion).
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