Rumors about the removal of old-issue dollars from circulation have not subsided in a number of mass media and social network pages in recent days.
Many citizens are complaining about the fact that some exchange offices and banks refuse to accept old dollars. In many cases, banks offer to buy old dollars at a lower price than the set exchange rate.
What should citizens do in this case?
Publika.az It is reported that the lawyer and economist-expert Ekram Hasanov, speaking about this to Yenisabah.az, said that banks are completely independent in the matter of whether to buy dollars or some foreign currency.
“Banks can conduct transactions with any currency. This is their internal work. The bank may refuse to exchange dollars in general. Because banks buy some currency so that they can later sell it in the same form. That is, our banks only buy that currency so that there is a buyer of that currency. Whether or not to buy the old dollar is up to each bank. Our banks cannot refuse to conduct operations only with the national currency.”
At the same time, the expert said that the banks are free to determine the exchange rate during the purchase.
“At the same time, the banks’ exchange rate policy is completely free. Calculating the dollar at 1.70 manats is just the exchange rate of the Central Bank. Each bank can buy and sell the dollar at a different value from this exchange rate. There are no restrictions on this. If Azerbaijan had a monopoly in this field, we could talk about some problem. But today there are 24 banks in the country. These banks determine the purchase and sale of some foreign currency by themselves.”
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