Azernews.Az

Qabil Ashirov

Read more

Azerbaijan plans to put an updated ₼100 banknote into circulation on July 15 this year, AzerNEWS reports, citing Rashad Mammadov, Director General of the Central Bank of Azerbaijan (CBA).

Mammadov said the Central Bank informs the public about newly updated banknotes or any changes to existing currency through its official website and social media platforms before they are introduced into circulation.

"One of the latest changes was the introduction of the updated ₼50 banknote in December last year. This year, the updated ₼100 banknote is scheduled to enter circulation on July 15," he said.

Mammadov noted that most cases of counterfeiting involve relatively primitive methods, such as color photocopying or scanning, and that such counterfeit notes can be easily detected by bank employees or cash-processing equipment.

According to the CBA official, the high technical standards and robust security features of Azerbaijan's national currency have kept counterfeiting rates significantly lower than those of many leading global currencies and the currencies of neighboring countries.

He added that the reliability of the banknotes' security elements has played a key role in maintaining confidence in the national currency and limiting the spread of counterfeit money.