The volume of foreign currency sold by the State Oil Fund of Azerbaijan (SOFAZ) at auctions in August 2021 grew, Trend reports on Sept.1 referring to SOFAZ.

According to the fund, this indicator amounted to $512.3 million, which is 7.2 percent more than in August of last year.

The currency sales are carried out within the framework of SOFAZ transfers to the state budget of Azerbaijan.

By the decree of the President of Azerbaijan from August 31, 2020, changes were made to the budget of the State Oil Fund for the previous year. According to the decree, the article of expenditures on the upper limit of transfers in the state budget has been increased from 11.4 million manat ($6.7 million) to 12.2 million manat ($7.1 million).

(1 USD = 1.7 AZN on Sept.2)

Source: TREND News Agency