BAKU, Azerbaijan, June 5. The Central Bank of Azerbaijan (CBA) received 5.73 billion manat ($3.38 billion) in banknotes into circulation and withdrew 5.86 billion manat ($3.46 billion) in banknotes from circulation.
The data obtained by Trend from the CBA shows that the cash in circulation grew by 0.76 percent (131 million manat or $77.3 million) compared to the beginning of the year, reaching 17.4 billion manat ($10.3 billion) by year-end.
The current reserves of the national currency amount to 8.9 billion manat ($5.25 billion), which is sufficient to meet the economy’s total demand until the end of 2026.
Besides, the CBA issued updated one and three gapik (metal coins) in 2024.
The design on the back of these coins was updated with the State Emblem of Azerbaijan and the year of production, in line with the previously updated five, 10, 20, and 50 gapik (metal coins).
The updated one and three gapik (coins) will circulate alongside the existing coins of the same denomination.
Furthermore, the fight against counterfeiting and coordination with law enforcement agencies remained a priority.
During the reporting year, 379 counterfeit banknotes in national currency (totaling 32,611 manat or $19,225) and 503 counterfeit foreign currency banknotes were detected and removed from circulation and handed over to law enforcement for appropriate action.
Cash offices established by the CBA in Baku and regional branches continued to accept and exchange unfit banknotes from the public.
Throughout the year, 6.7 million manat ($3.95 million) worth of banknotes (155,200 pieces) were accepted and exchanged.
In general, the CBA focused on meeting the demand for cash in various denominations across the economy, managing national currency reserves optimally and securely, and ensuring the circulation of high-quality banknotes.
