CBA: National currency reserves sufficient to meet economy's needs by end of 2026

In 2024, the Central Bank of Azerbaijan (CBA) withdrew 5.73 billion manats ($3.37 billion) worth of banknotes from circulation and issued 5.86 billion manats (nearly $3.45 billion) worth of banknotes into circulation, Report informs, citing the CBA.

As a result, the cash money supply in circulation increased by 0.13 billion manats (approximately $76.5 million) or 0.8%, amounting to 17.44 billion manats (about $10.26 billion) by the end of the year.

Currently, the national currency reserves amount to 8.9 billion manats (over $5.2 billion), which is sufficient to meet the economy's overall needs until the end of 2026.

Last year, the CBA introduced updated 1 and 3 gapik metal banknotes into circulation. They were updated in line with the previously renewed 5, 10, 20, and 50 gapik metal banknotes by adding the State Emblem to the back design, as well as the year of production.