SOFAZ increases sales of dollars to banks
By Trend
The State Oil Fund of Azerbaijan (SOFAZ) sold $654.1 million at currency auctions organized by the Central Bank in November 2018, Trend reports citing the Fund Dec. 6.
SOFAZ sold to banks $489.6 million in October. Since the beginning of the year, Azerbaijani banks have bought around $5 billion from the Fund.
The Oil Fund will continue the sale of foreign currency through auctions in 2018.
The sale of currency is carried out as part of SOFAZ transfers to the state budget of Azerbaijan, which are planned to stand at 10.966 billion manats in 2018.
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