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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Azerbaijan’s Oil Fund and Central Bank oversupply market with currency: their total supply exceeds demand 3.1-fold at currency auction

Posted on 30 September 2016

The State Oil Fund (SOFAZ) and the Central Bank increased the currency oversupply during its 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 order for $100 million, sold $48.9 million to 14 banks,” SOFAZ said. In its turn, the CBA announced the putting the application for $50 million………………………………………Full Article: Source


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