Azerbaijan's Central Bank put into operation jubilee, commemorative banknotes

Economy Materials 25 February 2020 09:00 (UTC +04:00)
Azerbaijan's Central Bank put into operation jubilee, commemorative banknotes

BAKU, Azerbaijan, Feb. 25

By Yusif Aghayev - Trend:

The Central Bank of Azerbaijan (CBA) put into circulation 748 gold, 45 gold-platinum, 967 silver and 84 cupronickel of jubilee and commemorative banknotes, Trend reports referring to the CBA.

These banknotes are made in accordance with international standards for technology Pruf from precious metals 999 samples.

The CBA periodically issues jubilee and commemorative banknotes made of precious metals, dedicated to famous personalities, significant events in the field of history, culture, creative activity, as well as events that have occurred in political, social and historical processes.

The cost of jubilee and commemorative banknotes may vary depending on changes in prices on world precious metals markets.

The Central Bank of Azerbaijan (formerly National Bank of Azerbaijan) was established on February 11, 1992, and renamed on March 8, 2009.

The status, goals, functions and powers, management and organizational structure of the CBA, as well as its relations as a central bank with state authorities and other persons are regulated by the Law On the Central Bank of the Azerbaijan Republic of the Azerbaijan Republic dated December 10, 2004.

The exclusive function of the CBA in issuing the country's national currency is enshrined in the Constitution of the Republic of Azerbaijan. In its activities, the bank is also guided by other legislative acts of the Republic of Azerbaijan and international treaties to which the country is a supporter. The administrative building of the bank is located in Baku.

The CBA is also a regulator of the financial and insurance services market.