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Shahmar Movsumov: 'Those who bought US-dollar during its growth, they lost'
Finance
- 12 July, 2016
- 09:50
Baku. 12 July. REPORT.AZ/ 'However, British pound sterling has decreased, value of US dollar increased. 50% of our portfolio is in USD'.
Report informs, Chief Executing Officer of State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov told reporters.
He noted that decline in any currency is relative: 'We don't follow currencies and don't buy which price increased. Situation regarding AZN is also the same. Everone bought USD while its price increased. Then they needed in AZN and lost buying this currency'.
Sh.Movsumov said that the SOFAZ maintains its portfolio in different currencies: 'Its reason is to prevent this impairment to affect our portfolio'.
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