CBAR reserves up US$ 29.6mn m/m in August 2016
Reserves of the Central Bank of Azerbaijan increased 0.7% m/m (-42.7% y/y) in August 2016 to US$ 4.2bn. During August 2016 CBAR did not participate in the FX auctions and increase was likely due to currency revaluations.

SOFAZ crude oil exports up 26.4% y/y in August 2016
SOCAR exported 1.5mn tons of crude oil in July 2016, up 26.4% y/y. In 8M16, however, crude oil exports were down 2.6% to 13.7mn tons. Monthly average price of BTC FOB Ceyhan crude was up 1.0% m/m (-1.6% y/y) to US$ 47.4/bbl.
SOCAR exports crude oil belonging to the company and to Azerbaijan state.