of July 15, 2005 No. 04-28/143
About denomination
In pursuance of the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of June 22, 2005 No. 116, No. 189 accepted according to the Presidential decree of the Azerbaijan Republic of February 7, 2005 "About change of nominal value of bank notes and standard of price (denomination) in the Azerbaijan Republic", especially we bring following to your attention:
1. Since January 1, 2006 in the Azerbaijan Republic denomination of national currency - manat is performed. Upon transition to new manat 1 old manat is equated to 5.000 old manats.
2. If when carrying out recalculation in connection with change of standard of price there will be remaining balance in kopek shares, the amount is rounded to complete kopek. If the remaining balance appears less than a half of kopek, the amount is reduced to complete kopek if this remaining balance is equal to half of kopek or above, the amount raises to complete kopek.
3. If as a result of rounding in connection with transition to the scale of new prices the remaining balance amount according to the obligations following from civil agreements, including bank deposits will go down to zero, the amount is accepted as one kopek (Appendix 1).
4. In case of expression of cost on the scale of new prices the figure for department of thousands uses point, and for department of manats from kopeks - comma.
5. From January 1 to December 31, 2006 bank notes of old sample along with bank notes of new sample are accepted as legal tender currency for carrying out any calculations, acceptance into accounts and money transfers, and also without restriction exchange banks.
6. Exchange of bank notes of old sample for bank notes of new sample of the banks functioning on the territories of the Azerbaijan Republic is performed without collection of commission fee.
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