The Collegium of the Central Bank of Azerbaijan (CBA) has approved the "Regulation on conducting currency exchange operations by persons licensed for currency exchange activities and controlling currency exchange activities," Report informs.
The Chairman of the CBA, Taleh Kazimov, signed a new decision in this regard.
According to the decision, the currency exchange operation will be carried out only in cash and by order of customers. An identification document will be required when selling foreign currency in cash over the equivalent of $500 to a single customer, as well as purchasing more than the equivalent of $10,000 from a single customer at a currency exchange point.
The daily limit of a currency exchange transaction conducted with an individual at a currency exchange point is 20,000 manats ($11,752) or its equivalent amount.
