SOFAZ nearly triples currency sales

In January-November 2024, the State Oil Fund of Azerbaijan (SOFAZ) carried out currency sales amounting to $6.494 billion, 2.55 times more compared to the same period last year, Report informs, citing the SOFAZ.

In November alone, SOFAZ's currency sales amounted to $574.6 million, 2.45 times more compared to a year ago.

In 2024, transfers from SOFAZ to the state budget should amount to 12.78 billion manats ($7.52 billion). During the 11 months, 11.72 billion manats ($6.89 billion)of this amount have been provided. During the reporting period, the fund's revenue from currency sales was approximately 676.1 million manats ($397.7 million) less - 11.39 billion manats ($6.49 billion).