Share of US dollar in SOFAZ investment portfolio grows to 71%

The investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) made $45.307 billion as of July 1, up 2.7% from the previous year.

Report informs, citing the fund, that 71% of SOFAZ investments is in US dollars, a rise of 2.4 percentage points from a year ago.

The share of the euro in the investment portfolio has dropped from 19.9% to 18.6%, and the share of the British pound fell from 4.9% to 4.8%.

The share of the Australian dollar remained the same at 0.6%, the share of the Turkish lira dropped from 0.6% to 0.4%, the Russian ruble saw its share down from 0.7% to 0.4%, the Chinese yuan dropped from 1.3% to 1.2%, Japanese yen dropped from 1.4% to 1.1% and other foreign currencies saw their share down from 2% to 1.9%.