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    SOFAZ to put for sale 50 mln USD today

    Report: Tomorrow USD official rate may exceed 1,63 AZN/USD

    Report: Tomorrow USD official rate may exceed 1,63 AZN/USD

    Baku. 9 March. REPORT.AZ/ The State Oil Fund of Azerbaijan Republic (SOFAZ) will offer currency mass of 50 million USD in the next auction, which will be held on March 9 through the Central Bank of Azerbaijan (CBAR).

    Report was told by banking circles.

    Analytical Group of Report states, if current demand of commercial banks to stay in the previous level and exceed the offer, USD official exchange rate for March 10 is expected to be minimum 1,6309 AZN/USD.

    'If USD exchange rate for tomorrow to be defined at least 1,6309 manats, selling rate of US-dollar may be increased to maximum 1,6961 AZN/USD at commercial banks, taking into consideration the margin', analysts said.

    Notably, today cash dollar is sold for 1,6700 manats in Baku, but maximum selling rate may be increased to 1,6877 AZN/USD, taking into consideration the margin. 

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