| Chinese yuan joins top five basic currencies of the State Oil Fund of Azerbaijan (SOFAZ). According to SOFAZ, as of July 1, 50.1% of its investment portfolio were denominated in U.S. dollars ($17.889 bn), 34% - in euro (€10.866million), 5.1% - in British pounds (£1.169bn), 1.8% - in Russian rubles (RUB 36.215 bn) and 1.4% - in yuan renminbi (CNY 3 bn).
The top five currencies are followed by Korean won (1.2% of portfolio or KRW 487.760 million), Turkish lira (1.1% or TRY 1.046 bn) and Australian dollar (0.6% or AUD 202.1 million). As of July 1, 2015, the Fund’s investment portfolio was estimated at the level of $35.726 bn and its general assets – at the level of $35.783 bn...............................................Full Article: Source |