It has been reported that some commercial banks and currency exchange offices in Azerbaijan refuse to exchange US dollars into manat issued in 2006 or before.
Some citizens claimed on social networks that the issue is legal.
Publika.az reports that about it economist expert Khalid Karimli He told Metbuat.az that currency exchange is the banks’ own business.
“The dollar is the responsibility of the Central Bank of America. The Central Bank of Azerbaijan has no such legislative obligation to respond to the dollar. The owner of the manat is the Central Bank. Banks also know that the Central Bank is responsible for those damaged and torn banknotes.
But the dollar is the responsibility of the Central Bank of America. Therefore, a citizen cannot demand anything from any bank regarding this issue. If banks don’t want to, they can’t take that dollar.”
It should be noted that in the statement issued by the Central Bank of Azerbaijan (CBA) regarding a similar issue, since there is no issuer of US dollars, the Central Bank and commercial banks are not under any obligation to accept or exchange them.
“Commercial banks are free to decide on the execution of these operations,” it was stated in the survey.
