Bbabo NET

News

The State Oil Fund of Azerbaijan “dropped” a record amount of dollars

Caucasus (bbabo.net), - The Central Bank of Azerbaijan sold currency worth $417.1 million at an auction in the first month of this year, which is twice as much as in January last year, the financial regulator of the Transcaucasian republic reported today, February 2.

The owner of the sold currency is the country's State Oil Fund.

As Reuters noted this Friday, over the entire past year, currency worth $2.7 billion was sold at auctions of the Central Bank of Azerbaijan.

The State Oil Fund of Azerbaijan is the main source of currency sales at currency auctions of the Central Bank of the Republic.

As bbabo.net reported, in certain periods of last year in Azerbaijan there was an increased demand for dollars from local banks.

The State Oil Fund of Azerbaijan “dropped” a record amount of dollars