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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Bank short of money to buy SOFAZ-offered entire currency

Posted on 03 August 2016

The State Oil Fund (SOFAZ) and the Central Bank obtained shortage of banks’ money for purchase of currency offered by the Sate Oil Fund. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.
“At the auction SOFAZ suggested $50 million, but the overall demand from the 29 banks was sufficient only for purchase of $49.1 million,” SOFAZ said. At the previous auction it was sold $50 million to 28 banks………………………………………..Full Article: Source


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