Azerbaijan renewing some banknotes

Central Bank of Azerbaijan (CBA) withdrew AZN 423 million banknotes worth AZN 7.7 billion from eth circulation, put 507 million worth AZN 9.7 billion into circulation, Report informs, citing CBA.

According to the information, total cash in circulation increased by 24.4% (AZN 2 billion or 83.7 million banknotes) to AZN 10.4 billion. As at the end of 2019, the strategic cash reserves of the CBA made up AZN 19.6 billion.

In order to meet the demand for structure of cash by the end of 2021, AZN 10-banknote with an updated design and protective system (AZN 400 million), 1-, 3- and 5-kopek coins have been produced and brought to the country. AZN 1-, 5- and 50-banknotes (AZN 3.36 billion) are being produced.