SOFAZ suspends sale of foreign currency on domestic market

Baku. 30 October. REPORT.AZ/ State Oil Fund of Azerbaijan (SOFAZ) has suspended operations for the sale of currency on the domestic open market. Report was told in banking circles.

Central Bank of Azerbaijan Republic, SOCAR and the SOFAZ act as the main sellers of currency on the regulated foreign exchange market.

Earlier, central bank stated the need to increase the number of "players" on the regulated foreign exchange market in connection with the transition to a floating exchange rate regime.

Note that, the State Oil Fund sells currency at the price of about 0,001 manats below the price offered by Central Bank.