State Petroleum Fund of Azerbaijan announced of manats purchase

​The State Petroleum Fund of Azerbaijan holds all the operations on the currency exchange at the official rate set by the Central bank, the State Petroleum Fund of Azerbaijan says.

One of the goals and obligations of the State Petroleum Fund of Azerbaijan is duly payment to the state budget.

The main revenue of the State Petroleum Fund of Azerbaijan comes from oil and gas sale in foreign currency – in USD.

Aiming for the execution of obligations before the state budget, there is a necessity to exchange the foreign currency for manats. The operations on the currency exchange are held at the country’s largest banks in conformity with the schedule give by the Ministry of Finance of Azerbaijan, the State Petroleum Fund of Azerbaijan reports.