16:00 - 28.09.2023

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September 28, Fineko/abc.az. Azerbaijan still has demand for metal coins of small denominations (1, 3 and 5 gapiks), and this year there is an increase in demand for them up to 6%.

ABC.AZ reports that the Central Bank of Azerbaijan informed about this in connection with the renewal of the coin with nominal value of 5 gapiks.

"The demand for coins of small denominations in circulation, including 5 gapiks, is conditioned mainly with the fact that they are still widely used in pricing and retail trade. In accordance with international practice and in cases arising from the legislation of the country, central banks carry out updates in the design and elements of protection of coins and banknotes.

An image of the state emblem and the year of issue was added to the design of the updated coins in accordance with coins of 10, 20 and 50 gapiks, which were updated in 2021-2022. This is also linked with changes to the relevant legislation,” CBA statement says.

The last updated metal coins in denominations of 10 and 50 gapiks were issued in Azerbaijan on July 27, 2022.