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Baku lost $90 mln due to Brexit

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The State Oil Fund of Azerbaijan Republic (SOFAZ) has lost $86 million as a result of depreciation of the UK pound due to Brexit.

According to the result of the first quarter of 2016, the Fund's portfolio at the 150.7 million GBP equivalent had a loss from the previous day rate (June 23) to June 24, at 12.am. 86 million USD.

According to these results, 4.9% of the Fund's assets places in GBP.

"Report" experts predict that GBP decline will continue and the loss of the fund will increase.

Date
2016.06.24 / 15:22
Author
Axar.az
See also

Oil prices fall in global market

Gold hits a new record above $3,744 per ounce

US Federal Reserve cuts discount rate to 4–4.25%

Global oil prices continue to rise

Azerbaijan resumes crude oil exports to India

Oil prices keep climbing on world markets

Global oil prices rise again

Global oil prices decline

Oil prices continue to climb in global markets

Oil prices keep rising in global markets

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