Baku, Azerbaijan, July 26
By Kamala Mammadli – Trend:
The volume of 200-manat bills increased by 2.4 times and amounted to 800 million when compared with the beginning of the year, the Central Bank of Azerbaijan (CBA) told Trend.
According to the information, the currency circulates through all banks of the country without any restrictions, and the volume of currency in circulation increases at a continuous pace.
"Today there are four million of 200-manat notes in circulation, making up 9 percent of all banknotes," the CBA said.
The release of 200-manat banknotes is aimed at facilitating cash flow and reducing government spending on printing money.
Terms of operation of banknotes are around 3-5 years (20 years for coins). Meanwhile, the life cycle of lower-value 1-manat and 5-manat banknotes makes up 1.5-2 years, as they get worn out more quickly due to being the most frequently used banknotes.