Central Bank of the Republic of Azerbaijan

Replacement of currencies

Regulation on replacement of damaged currencies

According to the Law of the Republic of Azerbaijan “On the Central Bank of the Republic of Azerbaijan”, the Central Bank replaces currencies fit for circulation without limitation.

The face value of a banknote containing an entire part or consecutive parts belonging to the same banknote, which has retained at least 60 percent of its surface area and at least one of the two serial numbers intact, shall be subject to replacement.

Example

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The face value of a banknote containing non-consecutive parts belonging to the same banknote, which has retained at least 60 percent of its surface area and both serial numbers intact, shall be subject to replacement.

Example

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The face value of a coin, the description and inscriptions of which have not been deformed over the entire surface and allow the determination of its denomination, shall be subject to replacement.

Example

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Calculation method

To determine the face value of a banknote, a checkered sheet of 200 equally sized squares is used, according to the size of each denomination. The area of the remaining surface of the banknote shall be defined as follows:

The remaining parts of the banknote are placed on the checkered sheet, aligned along the perimeter and a line is drawn along the lost edge of the banknote with a pencil.
The complete squares remaining inside the drawn line are counted, each square cut by the line is considered half a square and added to the number of complete squares.
The banknote is considered to have retained 60% of its surface area if the number of resulting squares of retained parts equals 120.

Note: Banks shall submit to the Central Bank or its structural units, within three working days at the latest, national currencies of doubtful authenticity or national currencies which have retained at least 60% of the surface area and at least one of the two serial numbers is intact, but the parts cannot be identified as belonging to the same banknote, together with an application.

Currency replacement points

Nationwide:

Operator banks assigned by the Centrl Bank and their branches – IBA OJSC and Kapital Bank OJSC

Other commercial banks and their branches operating all over the country

Working hours: Monday, Tuesday, Wednesday, Thursday and Friday, from 10:00 to 16:00

Regional offices: