Industry

Oil fund increased foreign exchange sales by up to 20% in 3rd quarter

In September of this year, State Oil Fund of the Republic of Azerbaijan (SOFAZ) sold USD 565,5 mln., according to the calculations of APA-Economics based on the information of CBA and SOFAZ.

This indicator increased by 10,4% compared with August of the current year, while decreased by 6,7% in comparison to September of the previous year. In September-January of the current year, Oil Fund realized USD 4,306 bln. in currency auctions which is 23,3% less comparing with the same period of the previous year.

The Fund sold USD 1,539 bln. in currency auctions in the 3rd quarter alone, which is 19,7% more in quarterly comparison.

Source: Azeri-Press News Agency