SOFAZ will put up for sale 100 million USD

Baku. 14 July. REPORT.AZ/ Today, the State Oil Fund of Azerbaijan Republic (SOFAZ) is planning to sell 100 mln. USD.

Notably, although the volume of currency intervention by the Central Bank of Azerbaijan (CBA) is substantially equal to 50 million USD, at the last auction the figure has reached 200 million. USD.

Report was told in the banking circles, increasing the amount by 2-fold is related with intention of the Central Bank to reduce the US-dollar rate. Analytical Group of Report News Agency predicts the growth of rate by 0.2% or 0.0031 AZN, but selling rate of cash dollar could drop to 1,55 AZN/USD. In other words, the official exchange rate on July 15 may exceed 1,56 AZN/USD.