| The Azeri state oil fund SOFAZ said on Wednesday it had sold $200 million on the forex market, a move to support the country's weakening national currency. "The Azeri oil fund has started selling foreign currency again this year. The first auction took place today. $200 million was sold and bought by 32 banks," SOFAZ said in a statement.
The $34 billion SOFAZ sovereign wealth oil fund holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue. It uses income from investments to pay for social spending and infrastructure projects...............................................Full Article: Source
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