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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Central Bank remains buyer of Oil Fund’s currency, but not key

Posted on 11 May 2016

The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. According to SOFAZ, today it has applied for sale of $50 million and sold $47.8 million through the auction.
“12 commercial banks ($27.8 million) and the Central Bank ($20 million) became the buyers,” the Fund said. At the previous auction on 5 May the Fund sold $45.8 million to the eight banks, including IBA, through auction. The Fund promises to continue selling currency through CBA auctions………………………………………..Full Article: Source


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