SOFAZ will put up for sale 50 mln. today

Baku. 15 April. REPORT.AZ/ Sale of currency will be carried out again in today's currency auction of the Central Bank of Azerbaijan (CBA). Report informs, the auction plans to sell assets of the State Oil Fund (SOFAZ) in the amount of 50 mln. USD.

Analytical Group of Report News Agency states that demand may reduce at today's auction. In this case, the rate may drop to 1,5178 AZN/USD. The maximum rate is forecasted at the level of 1,5258 AZN/ SD. Increased sales in the cash market may lead to a decrease in the sales rate.

Experts point out that in general there is a tendency to reduce the rate of purchase and sale of cash dollar amid rising oil prices and by the summer the dollar is projected to increase in supply, which will reduce the rate to 1,40-1,45 AZN/USD.

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