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Sovereign Wealth Funds Briefing - Categorized | Investment, Reserve Currencies

Azerbaijan Oil Fund weighs buying yuan after Aussie, Lira, Ruble

Posted on 30 May 2013

Azerbaijan’s State Oil Fund, known as Sofaz, is considering investing in the Chinese yuan as it broadens expansion into new currencies to diversify reserves.
“We are currently exploring the Chinese currency,” Sofaz Executive Secretary Shahmar Movsumov told reporters today in Baku, the Azeri capital. “There are some institutional problems to resolve. Investors cannot just come and invest in China any time they wish. There are some very strict terms.”……………………………………….Full Article: Source


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