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Sovereign Wealth Funds Briefing - Categorized | Performance

Following 2010 Azerbaijan’s Oil Fund to win back financial loss of first half-year

Posted on 22 October 2010

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) is going to win back accounting losses formed because of exchange rate difference in the first half of 2010. Informed sources link Fund’s exchange losses with an excessive rise of euro exchange rate to base currency (U.S. dollar) of SOFAZ.
“Panic rise of euro rate has stopped, and following this year SOFAZ expects recovery of lost assets in accounting terms,” a source said……………………………………….Full Article: Source


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