SOFAZ provides 69% of sales in currency auctions in October  

Of the $291.8 million sold in currency auctions held by the Central Bank of Azerbaijan (CBA) in October 2023, only $202.6 million, or 63.3%, 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 ($89.2 million) last month. However, during the month, the Bank's foreign exchange reserves increased by $732.8 million, or 7.5%, to $10,508.1 million from $9,775.3 million.