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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Azerbaijani banks buy over $60M from State Oil Fund

Posted on 23 September 2016

The State Oil Fund of Azerbaijan (SOFAZ) sold $61.4 million to 19 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 22, SOFAZ said in a message on September 22.
As much as $100 million was put up for the auction. SOFAZ will continue selling foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged to stand at 7.615 billion Azerbaijani manats in 2016………………………………………Full Article: Source


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