The Central Bank of Azerbaijan has announced that it will soon be circulating a new high value 200 manat denomination banknote, following the country’s economic growth.

Azerbaijan’s current high value circulating banknote is the 100 manat note, valued at around US $59.

However, following a decade of growth, the Central Bank decided that its current currency structure needed to be reassessed and subsequently saw the need for a higher value banknote denomination to aid daily transactions and increase cash handling efficiency.

The 200 manat note will join the existing 100, 50, 20, 10, 5 and 1 manat denominations of the current banknote series in circulation, first issued in 2005.

The 200 manat banknote has been designed by Crane Currency and is being produced by Giesecke+Devrient.

Image courtesy of the Central Bank of the Republic of Azerbaijan.

For more information and images, read the Central Bank’s press release.