BAKU, Azerbaijan, February 2. The State Oil Fund of the Azerbaijan Republic (SOFAZ) sold currencies totaling $417 million at the Central Bank's auctions in January 2024, Trend reports via SOFAZ.
Meanwhile, in January 2023 SOFAZ sold at the auctions of the Central Bank of Azerbaijan (CBA) currencies totaling $188.5 million.
To note, the sale of currency through regular CBA auctions is reflected in SOFAZ's liabilities and is related to SOFAZ's transfer movements to the state budget (i.e. the sale of currency allows to receive manats and transfer them to the revenue part of the state budget, which is replenished from SOFAZ).
Stay up to date with more news on Trend News Agency's WhatsApp channel
