CBA Took 491 Counterfeit Banknotes out of Circulation Last Year
The Central Bank of Azerbaijan (CBA) took 491 counterfeit banknotes in the amount of AZN 7,901 out of circulation last year, the annual report of the chief financial regulator of the country reads.
The total volume of cash in circulation by the beginning of the year amounted to 10.8 billion manats (minus 1.7% per year), or 513 million banknotes, of which 47% are bills and 53% are metal money. Moreover, almost all (99.6%) the cash in circulation accounted for paper money.
The most common are bills worth 100 manats - 73.1 million pieces, 1 manat - 56 million, 50 manats - 54.6 million, 20 manats - 23 million, 5 manats - 21.1 million, and 10 manats - 13.3 million. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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