19.01.2016 - Azerbaijan considers tighter currency controls to staunch losses
Azerbaijan's President Ilham Aliyev has ordered measures to support the economy and ailing manat currency, including a possible tightening of currency controls, help for banks, and a sell-off of state assets, state television reported on Monday. The State Oil Fund of Azerbaijan (SOFAZ) sold a total of $193.9 million on the foreign exchange market on Monday in a bid to prop up the weakening manat. It was the fund's third intervention this year. It has sold $539.9 million in total so far, while $100 million was sold by the country's central bank..............................................Full Article: Source
Print