DECREE OF THE PRESIDENT OF THE REPUBLIC OF AZERBAIJAN

on announcing the national currency of the Republic of Azerbaijan the only legal tender in the territory of the republic

In order to implement an independent financial, monetary policy in the republic, protect its domestic market, strengthen the national currency – the manat, and simplify banking financial accounting and settlements I decide to:
1. announce the currency of the Central Bank of the Republic of Azerbaijan – the manat the only legal tender in the territory of the Republic of Azerbaijan from 1 January 1994, 00.00 onward.
2. assign the Central Bank of the Republic of Azerbaijan to stop issue of the currency of the former USSR State Bank for 1961-1992 to circulation from 15 December 1993.
3. consider the currency of the USSR State Bank for 1961-1992 in circulation until 31 December 1993 a legal tender in the territory of the republic to be accepted in all offices, enterprises and organizations, regardless of the form of ownership, without any restrictions.
4. assign the Cabinet of Ministers and the Central Bank of the Republic of Azerbaijan make and implement relevant decisions arising from this Decree.

Heydar ALIYEV
President of the Republic of Azerbaijan

Baku city
11 December 1993
№ 58