Azerbaijan, Materials

Oil Fund in January sold through auctions $ 285 million

The State Oil Fund of Azerbaijan (SOFAZ) in January 2017 sold foreign currency totalling $ 285 million from foreign exchange auctions, according to SOFAZ. “In January 2017 SOFAZ sold foreign currency in the amount of $ 285 million from auctions,” the report says.

SOFAZ is known to have sold foreign currency totalling $ 246 million from foreign exchange auctions in December 2016. Thus, in January 2017 the volume of sales of foreign currency by the Fund as compared to December 2016 increased by 15.8%.

SOFAZ is the main source of foreign currency sales on foreign exchange auctions now.

In 2016 SOFAZ sold foreign currency totalling $ 4.9 billion from foreign exchange auctions.