New banknotes constitute 90% in circulation in Azerbaijan

National Bank of Azerbaijan's cash department deputy director Hajibala Masimov told that this indicator is completion of the period of transition to new banknotes and coins according to the international experience.

He said the change tempo will continue afterwards in order to replace the rest 10 % with new ones.

He also touched on the problem that people don't use 1, 2 and 3 kopecks (coins).

"They haven't got used to use kopecks. That is why these kopecks are not used widely."

He said the color of kopecks turns black gradually because they were made of copper. A Swiss lab confirmed the quality of the kopecks.

He said the 100 manat banknote is the highest and no other bigger banknote is planned to be issued.

By a presidential decree, transition to new banknotes comes to end in January 1, 2007. But the banknotes can also be exchanged with new ones after this date, APA reports.