Will 1, 3, and 5 qapik coins be withdrawn from circulation in Azerbaijan? - OFFICIAL

In recent years, the use of small coins with denominations of 1, 3, and 5 qəpiks has significantly decreased in Azerbaijan. More and more transactions in transport, trade, and services are conducted using bank cards. The possibility of VAT refunds has become an additional incentive for cashless payments.

The Central Bank of Azerbaijan told BAKU.WS that the fate of small coins is determined taking into account citizens' payment habits, the economic situation, and inflation levels.

"The national currency of Azerbaijan – the manat, as well as kopecks as part of its nominal structure, play an important role in the country's monetary circulation. Low denomination metal currency is still used in retail transactions, and keeping them in circulation remains economically and socially justified," the press service reported.

Thus, the withdrawal of 1, 3, and 5 qəpik coins from circulation is not planned in the near future.