Azeri Bank Permitted to Replace Old Currency with New One
The President of Azerbaijan issued a decree to ensure convenience in replacing old currency with new one. According to the Presidential decree, from January 1, 2007, together with the National Bank of Azerbaijan (NBA), other banks functioning in the country will be involved in replacement of the bank-notes, Trend reports with reference to the statement of NBA. This process will be held without period and limitations. The replacement of the currency will be carried out by the banks without deduction of the commission. The old currency is valid till December 31, 2006.