| The State Oil Fund of the Azerbaijan Republic (SOFAZ) will sell $ 200 million more to local banks through the auctions of the Central Bank Jan. 15, SOFAZ said Jan. 15. Thus, SOFAZ will continue selling foreign currency in 2016.
The first auction, held by using a new mechanism - through regular auctions of the Central Bank, was held Jan. 13. SOFAZ sold $ 200 million to 32 local banks through the auctions of the Central Bank. The foreign currency is sold as part of SOFAZ’s transfers to the state budget of Azerbaijan, which are envisaged in the amount of six billion manat in 2016...............................................Full Article: Source
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