Azerbaijani Central Bank awarded Best New Banknote prize

By Azernews

Azerbaijan's Central Bank has been presented an award for the AZN50 banknote, recognized as the Best New Banknote of the Year within the framework of the Global Currency Forum 2022 held in Spain.

On February 22, 2022, the International Association of Currency Affairs held an international conference in Washington with the participation of the world's leading central banks. 

The upgraded AZN50 banknote was awarded the title of "Best new banknote in the world" for its theme, design, and security features.

In line with international practice, the Central Bank periodically updates the design and security systems of the banknotes in order to bolster the fight against counterfeiting, using the latest technology and innovation. In this context, the updated banknotes of denominations of AZN1, AZN5, and  AZN50 were put into circulation in early 2021.

The National Bank of Azerbaijan was formed on February 11, 1992, by presidential order, and was renamed the Central Bank of Azerbaijan on March 18, 2009. The Central Bank's principal objectivity 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.