TODAY.AZ / Business

Old banknotes to be shredded

08 February 2007 [10:11] - TODAY.AZ
National Bank of Azerbaijan is carrying out preparation for currency notes disintegration process.

The country bought currency shredding devices and granulators from the Kusters Engineering to destroy old banknotes. The granulating devices will be delivered to Baku this week.

Chairman of the Management Board of the National Bank, Elman Rustamov, said the draft shredding rules have been introduced to the Government.

"The old banknotes will be destroyed by order of Currency Disintegration Commission in the second half of the year. We will complete technological preparation by that time," he said. He added that there is a small number of old notes in circulation.

The old currency notes are some 400 tons in weight.

The shreds of destroyed banknotes are burned or purchased by businessmen to use in the furniture industry. APA


Print version

Views: 1294

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: