SOFAZ decreases share of dollar in investment portfolio

In the third quarter of this year, the volume of the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $56.065 billion, which is $7.32 billion, or 14.3% more than in the previous year, Report informs, referring to SOFAZ.

At the same time, in the structure of the investment portfolio, 67.5% of funds are placed in US dollars (1.1 percentage points less than in 2022), 21.2% in euros (0.8 percentage points more), 5.3% in pound sterling (+0.1 percentage points), and 0.7% in Australian dollars (0.1 percentage points more).

The share of funds in Turkish lira fell from 0.4% to 0.2%, in Russian rubles from 0.3% to 0.2%, and in Chinese yuan from 1.1% to 1%. The funds surged from 1.3% to 1.4% in Japanese yen and from 2.1% to 2.5% in other currencies.