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DESIGN OF NEW BANKNOTES, COINS OF DENOMINATED MANAT OVER

Business Materials 22 September 2005 13:17 (UTC +04:00)

A preparation of a new design of banknotes and coins of the denominated manat of all 6 types is over. Kamran Nazirli, the Spokesman for the National Bank of Azerbaijan, said that the drafts had been presented to the President and their unification was underway. The design of banknotes and coins will be interrelated, enabling them to represent a �unified family’.

It is planned to book 250 million banknotes of new design and 155 million coins for 4-year demand. The banknotes of 100, 50, 20, 10, 5 and 1 denominated manats, as well as coins of 1, 3, 5, 10, 20 and 50 gepik will be booked for printing. A 50-gepik coin will be of bimetallic color вЂ" golden and silver. The NBA concluded a contract with the Austrian Osterreicheichische Banknoten und Sicherheitsduck for printing and coinage of new denominated manats.

Previously, the British Thomas De La Rue was supposed to print new banknotes with its subcontractor Royal Mint of the UK. The cost of the final contract is some 16m euro.

The NBA has specified the rules for indicating prices in new scales. The bank told Trend that from 1 October 2005 all prices should be indicated both in old and new scale of manat, while calculating new prices might turn out non-integral number.

So, in case a figure is lower than 0.5 gepik the figure will be rounded off with a decrease of price, while in case the figure equal of exceeds 0.5 gepik the price will be rounded off with an increase of price.

While indicating the price comma ( " , " ) is used for prices manats and gepiks, while use of ( " . ") thousand manats.

Goods and services

Old prices in manat

Prices in denominated manat

Bread

1000

20 gepiks

Sugar

2700

54 gepiks

Butter

18 000

3 manat 6 gepiks

Eggs

10 С€С'СѓРє вЂ" 4 000

80 gepiks

Mineral water

2000

40 gepiks

Fairs:

Bus

Metro РњРµС'СЂРѕ

1000

250

20 gepiks

5 gepiks

Energy

96

2 gepiks

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