The E-Sylum:  Volume 9, Number 1, January 1, 2006, Article 6

AZERBAIJAN's NEW PAPER CURRENCY

>From BakuToday.net, an Azeri website: "As earlier reported,
Azerbaijan's new money to be released in January in light
of the currency denomination was presented on Wednesday.

Addressing the presentation ceremony at the Excelsior Hotel,
President Ilham Aliyev said the issuance of the new banknotes
and coins into circulation will mark a new stage in the
country's history."

"The new banknotes and coins, printed by an Austrian company,
were designed by Austrian expert Robert Kalina, who also
developed Euro's design.

1 Manat (national currency) will equal 5,000 Manats currently
being used. The new banknotes, worth 1, 5, 10, 20, 50, and 100
manats and coins worth 1, 3, 5, 10, 20, 50 hundredth factions
of 1 Manat will be issued.

The banknote worth 1 manat will display Azeri culture, while
one for 5 manats - literature, and 10 manats history. 20-manat
banknotes will cover the Garabagh conflict, on the initiative
of the President, while ones worth 50 manats - education and
Azerbaijan's future prospects, and 100 manats - the country's
development. The banknotes will be protected by some 30
watermarks, Rustamov said."

"Since 1992, the rate of the national currency Manat has
decreased 10,000 times, which necessitates the release of
new banknotes from the economic and technical viewpoints."

To read the complete article and view images of the notes, see: Full Story

  Wayne Homren, Editor

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