1AZN coin can replace 1AZN banknote in Azerbaijan

Azerbaijan can issue 1AZN coins instead of AZN 1 banknotes.

Central Bank of Azerbaijan has considered this issue since 2003. For the present, some solution methods of the issue are being researched, said the head of Cash Money Department of the Central Bank Hajibaba Mansimov.

He noted that during the parallel circulation of both banknotes and coins, there is no need for metal analogue of eth money due to physiological factors: “Population do not take such moneys. Besides, the coins have logistics problems lie collection, payment, carrying and etc”.

The most important problem in Azerbaijan can be related with the social payments. If AZN 1 banknote changes to 1AZN coin, pensioners will not be able to withdraw nearly AZN 4 from ATMs”. 


/APA/