Central Bank updates design of metal coins with denomination of 10, 50 gapiks

By Azernews

By Ayya Lmahamad

Azerbaijan’s Central Bank has updated the design of metal coins with denominations of 10 and 50 gapiks (5.8 and 29.4 cents), Azernews reports.

The State Emblem and the year of the issue have been added to the design of the renewed coins. Their technical parameters remained unchanged.

The coins will be in circulation in parallel with coins of the same denomination currently in circulation.

To recall, in December last year, the bank updated the design of the 20-qapik coin and put it into circulation. The updated coin has added the state emblem and the year of issue. The technical parameters of the updated 20-qapik coin have remained unchanged in accordance with the existing coins of the same denomination.

The National Bank of Azerbaijan was formed on February 11, 1992, by a presidential order, and was renamed the Central Bank of Azerbaijan on March 18, 2009. The Central Bank's principal purpose is to preserve price stability within its legal authority, to arrange and ensure the operation of centralized interbank and other unregulated payment systems, and to support the stability of the banking system.