| Azerbaijani state oil fund SOFAZ sold $177.45 million to 13 local banks through auctions held by Azerbaijan’s Central Bank (CBA) Feb. 22. “Despite that SOFAZ offered $200 million for sale through auctions, $177.45 million were sold to the banks,” the fund has said.
Thus, SOFAZ will continue selling foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to Azerbaijani state budget, which are envisaged to stand at six billion Azerbaijani manats in 2016...............................................Full Article: Source
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