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Azerbaijan re-denominated its national currency
Azerbaijan re-denominated its national currency, the manat, the press office of the Central Bank of Russia said Monday, referring to a statement made by the Embassy of Azerbaijan in Russia on February 15. The new manat is worth 5,000 old manats. The new currency consists of 1-, 5-, 10-, 20-, 50- and 100-manat banknotes and coins of lesser denomination, the bank said. Old and new banknotes will circulate simultaneously throughout 2006 and old banknotes will be withdrawn from circulation from January 1, 2007
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