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 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.

2016.06.24 / 15:22
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