Azerbaijan buys Australian government bonds
Azerbaijan is buying Australian government bonds, joining a growing list of sovereign investors acquiring debt Down Under in a trend that has seen the Aussie dollar labeled a potential safe-haven currency by the International Monetary Fund, The Wall Street reported.
The former Soviet republic's US$33 billion dollar sovereign-wealth fund - the State Oil Fund of of Azerbaijan, or Sofaz - said it quietly started buying Australian bonds in July at a time when market data show the Aussie dollar gained 3.4% in value over the month.
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