SOFAZ lowers share of Russian ruble in investment portfolio

The State Oil Fund of Azerbaijan (SOFAZ) has halved the share of the Russian ruble in its investment portfolio in the first quarter of 2022, Report informs.

In the first quarter of this year, SOFAZ's investment portfolio amounted to $ 45.263 billion, 5.85% more than at the end of the first quarter of last year.

The US dollars account for 70% of the fund's investments (+1.4 percentage points).

During the reporting period, the euro share in the investment portfolio fell from 19.7% to 19.5%, and the British pound from 5.2% to 4.8%.

The share of the Australian dollar remained unchanged at 0.6%, the Turkish lira dropped from 0.6% to 0.4%, and the percentage of the Russian ruble fell from 0.6% to 0.3%.

In the first quarter of this year, the share of the Chinese yuan remained steady at 1.3%, the Japanese yen sank from 1.5% to 1.1%, and other foreign currencies rose from 1.9% to 2%.

In January-March, SOFAZ's assets increased by 0.5% to $ 45.264 billion.