BAKU, Azerbaijan, Apr. 5
Taking into account the public interest, the Central Bank of Azerbaijan reiterates that national banknotes in the country are developed on the basis of a special concept and are released into circulation in accordance with the decisions of the Monetary Reform Committee established upon a relevant order of the president of Azerbaijan and headed by the prime minister, Trend reports on April 5 with reference to the CBA.
“The national banknotes which are currently in circulation were issued in 2006 after the denomination implemented upon the decree of the president of Azerbaijan "On changing the face value of banknotes and the scale of prices (denomination) in the Republic of Azerbaijan" dated February 7, 2005,” the CBA said.
“The banknotes of this concept, dedicated to the theme "Independent Azerbaijan", cover different sub-themes: a 1 manat banknote (0.5 cents) - "Culture and Art", 5 manat ($2.9) - "Letter and Literature", 10 manat ($5.9) - "History", 20 manat ($11.8) - "Karabakh", 50 manat ($29.4) - "Education and Future", 100 manat ($58.8) - "Economy and Development", 200 manat ($117.6) - "Modern Architecture",” the CBA said.
“Over the 15 years of its existence, this concept remains relevant in terms of themes, aesthetic appearance and protection system,” the CBA said.
“However, proceeding from the international experience, to strengthen the security systems of the Azerbaijani banknotes and increase their resistance to counterfeiting, their design and security elements are being renewed in accordance with the relevant decision of the Monetary Reform Committee,” the CBA said.
“During the renovation, the main design elements depicted on the Azerbaijani banknotes which are in circulation and characterizing the theme of the corresponding denomination were retained as the main motive,” the CBA said.
“Taking into account the latest innovations in the world practice, the renewed 1, 5 and 50 manat-banknotes have been put into circulation since the beginning of this year,” the CBA said.
“Moreover, the Central Bank of Azerbaijan plans to issue commemorative banknotes into circulation to perpetuate the victory of the Azerbaijani glorious troops under the leadership of Supreme Commander, Azerbaijani President Ilham Aliyev in the second Armenia-Azerbaijan Nagorno-Karabakh War for the liberation of the Nagorno-Karabakh region, which is the ancestral Azerbaijani land, as well as the memory of the heroes of the Nagorno-Karabakh War, glorifying and bringing history, national and cultural heritage to the international community, flora and fauna of the Azerbaijani liberated cities and districts," the CBA added.