2018-06-13 Wed

The Central Bank of Azerbaijan will be circulating new 200 Azerbaijani mantas banknotes in June. This would be the largest denomination for the country and would be almost equal to USD $118. The new notes have been released to stabilise economy and improve cash flow. It features Heydar Aliyev Center, its main exterior and interior design elements along with elements of national carpet examples etc. The largest denomination currently in circulation is the 100 manat. One Azerbaijani manat contains 100 “gapick”. Officials have assured that the new notes are not being issued due to inflation or devaluation.

The national currency was rebranded and redesigned in 2006. The new note was designed by a company named Crane Currency headquartered in Boston. The Munich-based Giesecke & Devrient Company will be printing the new bill. They would feature modern security features like the Rolling Star LEAD hologram, Rolling Star security thread, SPARK Live optical security hologram and fluorescent elements visible under an ultraviolet light. The note also has convex elements to help visually impaired persons identify the denomination.

The Azerbaijan Democratic Republic was formed after the country got independence from Russia on 28th May 1918. However, the Soviet occupation occurred on 28th of April 1920. The Azerbaijani manat was first introduced during this 23-month period. The “first manat” was introduced in 1919. The Soviet ruble became national currency under the Socialist Republic title.

Azerbaijan got independence from USSR again in 1991, after which the manat was reintroduced as National Currency. This currency, termed as “second manat” lasted till 2006, after which the “third manat” was introduced at a value of 5,000 old mantas.

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