Azerbaijani banks, Central Bank buy over $45M at

26 November 2024

Azerbaijani banks, Central Bank buy over $45M at auction

23:33 10 May 2016 Read: 725

Azerbaijani banks, Central Bank buy over $45M at auction

The State Oil Fund of Azerbaijan (SOFAZ) sold $27.8 million to 12 banks through an auction held by the Central Bank of Azerbaijan (CBA), said SOFAZ in a message May 10.

Meanwhile, CBA itself acquired $20 million at the auction.

SOFAZ was offering $50 million for sale through 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.

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