SOFAZ sells 50 mln USD to 29 banks

Baku. 9 June. REPORT.AZ/ Today, the State Oil Fund of Azerbaijan Republic (SOFAZ) has put up for sale 50 million USD. The amount was sold to 29 commercial banks, SOFAZ said.

Report was told in the banking circles, the transaction carried out at an average price of 1,5122 AZN/USD.

According to the information, in today's auction real demand of commercial banks exceeded actual proposal by 10 times, reaching 500 mln. USD. Therefore, growth of tomorrow's official rate is expected.

Today, exchange rate was defined at 1,5084 AZN/USD.