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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Central Bank again becomes a buyer of Oil Fund’s currency, but not key one

Posted on 18 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 $49 million through the auction.
“Eight commercial banks ($34 million) and the Central Bank ($15 million) became the buyers,” the Fund said. At the previous auction on 12 May the Fund sold $44.8 million to the 9 banks, including IBA, through auction. The Fund promises to continue selling currency through CBA auctions………………………………………..Full Article: Source


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