BAKU, Azerbaijan, August 2
By Zeyni Jafarov - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) sold $461.6 million at foreign exchange auctions in July 2021, which is by 10.5 percent less than in July 2020, Trend reports citing SOFAZ on Aug. 2.
The currency is sold within SOFAZ’s transfers to the Azerbaijani state budget.
The changes were made to the budget of SOFAZ for the last year upon the decree of the Azerbaijani president dated August 31, 2020.
In accordance with the decree, the expenditure on the upper limit of transfers to the state budget was increased from 11.4 million manat ($6.7 million) to 12.2 million manat ($7.2 million).
(1 USD = 1.7 AZN on Aug. 2)
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