| The State Oil Fund of the Republic of Azerbaijan (SOFAZ) sold $100 million to 23 local banks through the auction held by Azerbaijan’s Central Bank (CBA) March 2, SOFAZ said. “SOFAZ offered $100 million for sale through the auction,” the statement said. “This amount was fully sold to the banks.”
Thus, SOFAZ will continue selling foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged to stand at six billion Azerbaijani manats in 2016...............................................Full Article: Source |