SOFAZ provides 55% of sales in November currency auctions

Only $234.7 million, or 55%, of the $427 million sold in currency auctions held by the Central Bank of Azerbaijan (CBA) in November 2023, belonged to the State Oil Fund of Azerbaijan (SOFAZ), Report informs, citing SOFAZ.

In other words, the CBA had to auction a part of its foreign exchange reserves ($192.3 million) last month. However, during the month, the Bank's foreign exchange reserves increased by $107.8 million, or 1%, to $10,615.9 million from $10,508.1 million.