BAKU: Governor of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, has commented on the increase in demand for currency at the CBA’s currency auctions with the participation of the State Oil Fund (SOFAZ), Trend reports.
‘More than a twofold increase in demand at currency auctions is primarily due to fulfilling obligations to the state budget,’ the governor said at a press conference.
He noted that since the beginning of the year, local companies and private entrepreneurs have paid $800 million to settle debts with foreign partners.
‘Additionally, the state has paid over 1 billion manat, or $588.235 million, in foreign debt. All of these factors contribute to the increase in sales at currency auctions,’ Kazimov added.
Source: Trend News Agency