Azerbaijan will not release banknotes of 200 and 500 manats in 2013

President of the Azerbaijani Central Bank Elman Rustamov said today that banknotes worth 200 and 500 manats will not be released in 2013 and will be seen no sooner than in 2014.

Rustamov said on December 15, 2012, that turnover of banknotes worth 50 and 100 manats had grown significantly in the past years. They should not exceed 60-65%, according to international practice.

Release of 200-manat and 500-manat banknotes would save up to €10 million.

Adapted from: Vestnik Kavkaza