Azerbaijan Currency: Everything You Need to Know

The Azerbaijani manat is the official currency of Azerbaijan, introduced in 1992 to replace the Soviet ruble.

You can exchange your currency for manat at banks, currency exchange offices, or some hotels, with banks usually offering the best rates.

The manat is available in various denominations, including 1, 5, 10, 20, 50, 100, and 200 manat banknotes.

You'll find ATMs widely available in Baku and other major cities, with many accepting international cards and offering competitive exchange rates.

The second manat was introduced in 1992 and replaced the Soviet ruble at a rate of 10 rubles to 1 manat. This marked a significant change in Azerbaijan's currency history.

The exchange rate of the second manat was fairly stable from 2002 to 2005, ranging from 4,770 to 4,990 manats per US dollar. The slight increase in value against the US dollar starting in 2005 can be attributed to the influx of petrodollars and high oil prices.

By 2005, banknotes below 100 manats had largely disappeared, and the gapik coins were no longer in use.

The first manat was introduced in 1919 and was used until 1923. It was issued by the Azerbaijan Democratic Republic and its successor, the Azerbaijani Soviet Socialist Republic.

The currency was called the manat in Azerbaijani and the ruble in Russian. The denominations were written in both languages, and sometimes also in French, on the banknotes.

The manat replaced the first Transcaucasian ruble at par, meaning it was equal in value. It was only used as banknotes, with no subdivisions issued.

In 1923, the manat was replaced by the second Transcaucasian ruble, as Azerbaijan became part of the Transcaucasian Soviet Federal Socialist Republic.

The second manat was introduced on August 15, 1992, replacing the Soviet ruble at a rate of 10 rubles to 1 manat.

It had the ISO 4217 code AZM and was fairly stable in early 2002, with an exchange rate of around 4,770 manats per US dollar.

The exchange rate remained stable until early 2005, when it started to increase slightly due to the flow of petrodollars into the country and high oil prices on the world market.

By the end of 2005, one dollar was worth 4,591 manats, and banknotes below 100 manats had largely disappeared from circulation.

The gapik coins, which had not been used since 1993 due to inflation, effectively disappeared by 2005 as well.

Azerbaijan currency was introduced in 1992 with coins in denominations of 5, 10, 20, and 50 gapiks, and later aluminum coins were introduced in 1993.

Coins were rarely used in circulation, and the first banknotes were issued on August 15, 1992, in denominations of 1, 5, 10, and 250 manats.

These early banknotes featured the Maiden Tower in Baku on the obverse and various colors and inscriptions on the reverse.

Here's a breakdown of the early banknotes:

In 1993, higher denomination banknotes were introduced, including 500 and 1,000 manats, featuring portraits of Nizami Ganjavi and Mahammad Amin Rasulzade, respectively.

The Azerbaijani manat is the official currency of Azerbaijan, abbreviated as ₼ and denoted by the ISO currency code AZN. It's been the official currency since the country gained independence in 1992.

The manat is divided into 100 qəpik coins, and there are six different denominations of banknotes in circulation. You can exchange your money for manat at a currency exchange or withdraw it from an ATM.

Here are the denominations of banknotes in circulation:

The Azerbaijani manat has undergone several changes over the years, and its banknotes reflect this. The Democratic Republic issued notes in denominations of 25, 50, 100, 250, and 500 manats.

The Soviet Socialist Republic issued notes in a wider range of denominations, including 5, 100, 1,000, 5,000, 10,000, 25,000, 50,000, 100,000, 250,000, 1 million, and 5 million manats.

A commemorative ₼500 banknote was introduced in 2021, marking a new addition to the manat's banknote series.

The Azerbaijani manat symbol, ₼, was designed by Robert Kalina in 2006. This symbol is now a part of the Unicode character set, specifically U+20BC, which was added in 2013.

The manat symbol was inspired by the design of the Euro sign (€), and it resembles a single-bar Euro sign rotated 90° clockwise. This unique design was first proposed by Mykyta Yevstifeyev.

The Azerbaijani manat symbol is displayed to the right of the amount in Azeri and Russian. In fact, the symbol is used in conjunction with the amount on banknotes.

Here are the details about the Azerbaijani manat symbol:

The Azerbaijani manat symbol was added to the Unicode character set in 2013, after several failed proposal attempts between 2008 and 2011.

The Azerbaijani manat is pegged to the US dollar at a rate of 1.7 manats to 1 US dollar since May 2017.

Before this peg, the exchange rate fluctuated wildly, reaching a high of 1.05 manats to 1 US dollar in 2015.

You can use exchange rate tools to follow the live rate and set up smart email alerts to follow fluctuations.

Here's a brief history of the exchange rate:

This means that if you're traveling to Azerbaijan, you'll know exactly how much your money is worth in manats.

The Azerbaijani manat is the official currency of Azerbaijan, and it's been in circulation since the country gained independence in 1992. It's abbreviated as ₼ and has an ISO currency code of AZN.

The manat symbol, ₼, was designed by Robert Kalina in 2006 and added to Unicode in 2013. It's inspired by the Euro sign (€), but with a single-bar rotated 90° clockwise.

The Azerbaijani manat is pegged to the US dollar, meaning its value is directly tied to the dollar's value. As of now, the exchange rate is around 1.7 manats to 1 US dollar.

The manat is divided into 100 qəpik coins, with six different denominations of banknotes in circulation. The banknotes feature important figures and landmarks from Azerbaijani culture, making them a beautiful piece of currency.

Here are the denominations of banknotes in circulation:

The manat has been introduced in various denominations over the years, including ₼2 and ₼3 notes, which were considered but not introduced.

The Azerbaijani manat is the official currency of Azerbaijan, abbreviated as ₼.

You can find the manat's ISO currency code, AZN, and it's also locally abbreviated as "m." or "man.".

The manat has been the official currency of Azerbaijan since the country gained independence in 1992, making it a symbol of Azerbaijani pride and resilience.

The Azerbaijani manat, the official currency of Azerbaijan, is abbreviated as AZN. Its symbol is ₼.

The manat has been the official currency of Azerbaijan since 2006, when it replaced the Soviet ruble. The country gained independence in 1992, but the manat didn't become the official currency until 2006.

The Azerbaijani manat comes in banknote denominations of 1, 5, 10, 20, 50, and 100. These denominations are widely accepted and used for everyday transactions.

Here are the key facts about the Azerbaijani manat at a glance:

The value of the Azerbaijani manat is pegged to the US dollar, meaning its value is directly tied to the dollar's value.