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.
SOFAZ was established in 1999 with assets of $271 million.
As of April 1, 2016, SOFAZ`s assets increased by 2 percent and amounted to $34.25 billion compared to early 2016 ($33.57 billion).
SOFAZ sells $50M to 29 banks
05 July 2016
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The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 29 banks through an auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said July 5.
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