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Banknotes of larger denominations may be issued in Azerbaijan in future

Business Materials 8 May 2012 18:58 (UTC +04:00)
Azerbaijan probably will issues banknotes in large denominations of 200 and 500 manat in the future, chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said on Tuesday.
Banknotes of larger denominations may be issued in Azerbaijan in future

Azerbaijan, Baku, May 8 /Trend A.Akhundov/

Azerbaijan probably will issues banknotes in large denominations of 200 and 500 manat in the future, chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said on Tuesday.

"At present the work on the design of the project is being implemented" Rustamov said "Issue of banknotes in large denominations may begin after the appropriate decision."

In this regard Rustamov refused to talk about the specific terms.

"The government has been discussing it, and it could happen in the coming years," Rustamov said.

He added that there is no necessity to issue banknotes of small denominations.

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