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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Oil Fund sells less than half of its application through Central Bank’s auction

Posted on 21 September 2016

The State Oil Fund (SOFAZ) and the Central Bank continue centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.
“At the auction SOFAZ, putting an application for $100 million, sold $72.4 million to 20 banks,” SOFAZ said. In its turn, the CBA announced the putting the application for $50 million. As a result, total application from these two organizations made up $150 million, but foreign currency was bought only by 48.3% of application………………………………………Full Article: Source


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