Today, 28 years have passed since the introduction of the Azerbaijani manat.
The manat, the national currency, was put into circulation on August 15, 1992, Qadin.Net reports.
The author of the first sketches of the manat is Eldar Mikayilzade.
At the first stage - 1, 10 and 250 manat banknotes were issued in August 1992, 5, 10, 20 and 50 manat kopecks in November, 5 manat in December, and 50, 100, 500 and 1000 manat banknotes in March 1993.
The first issue of money of the Republic of Azerbaijan was published in 1992 by the Central Bank of France.
In accordance with the decree signed by President Ilham Aliyev on February 7, 2005 "On changing the nominal value and price scale (denomination) of banknotes in the Republic of Azerbaijan", a new generation of banknotes was put into circulation on January 1, 2006.
It is prohibited to use currency other than manat as a means of payment in the territory of the Republic of Azerbaijan. The right to issue and withdraw the manat from circulation belongs only to the Central Bank, which is exclusively owned by the state.
During the transition to the new manat, 1 new manat was equal to 5,000 old manats.
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