Azeri SOFAZ fund places 1 bln euros in Turkey's central bank

1 minute read

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan

Register now for FREE unlimited access to Reuters.com

BAKU, Jan 28 (Reuters) - Azerbaijan's state oil fund SOFAZ has placed a 1 billion euros deposit in Turkey's central bank for six months, the fund said in a statement on Friday.

"This investment is in line with the SOFAZ investment strategy and will have a positive impact on Turkey's financial stability. The deal was completed on January 27," SOFAZ said.

SOFAZ assets totalled $45 billion as of the end of 2021.

Register now for FREE unlimited access to Reuters.com
Reporting by Nailia Bagirova, Writing by Maria Tsvetkova, Editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.