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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Excessive demand for currency has arisen in Azerbaijan: Oil Fund failed to cover it

Posted on 13 July 2016

The excessive demand for currency has arisen in Azerbaijan, and the State Oil Fund (SOFAZ) was not able to cover it itself. The Central Bank of Azerbaijan informs that today it has conducted a regular foreign exchange auction.
“Along with SOFAZ, the Central Bank sold $200 million at the auction to 29 banks. The demand from banks was fully satisfied,” the CBA said. In turn, SOFAZ informed that it sold only $100 million through auction to the same 29 banks………………………………………..Full Article: Source


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