SOFAZ sells nearly $300M to Azerbaijani banks

  02 February 2018    Read: 996
SOFAZ sells nearly $300M to Azerbaijani banks
The State Oil Fund of Azerbaijan (SOFAZ) sold $299.1 million at the currency auctions organized by the country’s Central Bank (CBA) in January 2018, SOFAZ said Feb. 2.  

SOFAZ sold $584.8 million at the currency auctions in December 2017. In total, the Azerbaijani banks bought over $3.7 billion from SOFAZ in 2017.

The currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged in the volume of 9.216 billion manats for 2018.


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