SOFAZ reduces share of dollar, increases euro in investment portfolio 

As of January 1, 2023, the investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) stood at 49,033.56 million, up 8.9% from the previous year, Report informs.

The US dollar accounts for 68.6% of the Fund's investments, 0.4 percentage points less than a year ago. In the reporting period, the share of the euro in the investment portfolio fell from 20.4% to 19.5%, the British pound dropped from 5.2% to 5.1%, the Australian dollar and the Turkish lira remained unchanged at 0.6% and 0.4%, respectively, the Russian ruble declined from 0.6% to 0.3%, the Chinese yuan slipped from 1.3% to 1.1%, the Japanese yen dropped from 1.4% to 1.3%, and other foreign currencies were left unchanged at 2.1%.