Assets of Azerbaijan’s State Oil Fund shrinking

Assets of the State Oil Fund of Azerbaijan (SOFAZ) shrank by $185 million in July 2015 to $35.7262 billion, according to Azerbaijani media.

SOFAZ’s assets in euro fell by $68 million (in dollar equivalent) due to the difference in the exchange rate. Investments in the Australian dollar fell by $12 million, in Turkish lira – by $1.5 million, in Russian ruble – by $54 million, and in South Korea won – by $17.5 million.

The fund lost another $86 million as gold price fell.