Baku, Azerbaijan, Sept. 14
By Khalid Kazimov -- Trend:
Iran spends over $33 million each year to produce new banknotes to replace for worn-out notes circulating in the country, director of Bills and Coins Production Organization Amir Shokri said.
Besides that, a sum is spent to eliminate the old bills, he said, Mehr news agency reported Sept. 14.
He added printing each rial bill costs about 4 cents.
"Last year 700 million notes were eliminated. We also have the elimination of 1.2 million banknotes in one year on record," Shokri pointed out.
The official said the Central Bank of Iran's plan for the current Iranian fiscal year (ending March 20) is to produce 800 million banknotes.
Edited by CN