Azerbaijani Manat to Dollar Exchange Rate Statistics and Analysis

The Azerbaijani Manat to Dollar exchange rate has fluctuated significantly over the years. The highest recorded exchange rate was 1 AZN = 1.55 USD in 2015.

Historically, the exchange rate has been influenced by global economic trends and oil prices, which have had a major impact on Azerbaijan's economy. The country's oil reserves have been a significant contributor to its GDP.

Azerbaijan's economic growth has been closely tied to the price of oil, with a significant decline in oil prices in 2014 leading to a sharp depreciation of the manat. The exchange rate dropped to 1 AZN = 0.85 USD in 2015, marking a significant loss of value for the manat.

Since then, the exchange rate has stabilized, with the Central Bank of Azerbaijan implementing measures to maintain the stability of the manat.

The Azerbaijani manat has a rich history, with three distinct periods of use. The first manat was introduced in 1919 and was replaced by the second Transcaucasian ruble in 1923. The second manat was introduced in 1992 and replaced the Soviet ruble.

The second manat was in circulation until 2006, when it was replaced by the third manat. The exchange rate was relatively stable during this period, with the value of the manat against the US dollar fluctuating between 4,770 and 4,990 manats.

The third manat was introduced on January 1, 2006, at a ratio of 1 new manat to 5,000 old manats. This changeover was facilitated by indicating prices in both new and old manats from October 2005.

The first manat was issued in 1919 and was used until 1923. It was used 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, with both languages written on the banknotes. Sometimes French was also included.

The manat replaced the first Transcaucasian ruble at par, meaning it was valued equally. It was later replaced by the second Transcaucasian ruble after Azerbaijan became part of the Transcaucasian Soviet Federal Socialist Republic.

No subdivisions were issued, and the currency only existed as banknotes.

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

It had the ISO 4217 code AZM. The exchange rate was fairly stable from early 2002 to early 2005, varying within a band of 4,770–4,990 manats per US dollar.

By 2005, the value of the manat against the US dollar started to increase, likely due to the increased flow of petrodollars into the country and high oil prices on the world market. At the end of 2005, one dollar was worth 4,591 manats.

Banknotes below 100 manats had effectively disappeared by 2005, and the gapik coins were no longer in circulation.

In 2006, a new manat was introduced at a ratio of 1 new manat to 5,000 old manats. This change was part of a larger effort to stabilize the economy.

Coins denominated in qəpik, which had not been used since 1993 due to inflation, were reintroduced with the re-denomination. This included coins in circulation such as 1, 3, 5, 10, 20 and 50 gapiks.

Most coins closely resemble the size and shape of various euro coins, with the bimetallic 50 gapik being a notable exception. It's similar to the €2 coin.

Here are the technical parameters of the coins in circulation:

The former manat (ISO code 4217 AZM) remained in use through to 31 December 2006.

The Azerbaijani manat has a rich history, and its banknotes are a fascinating aspect of it. The Democratic Republic issued notes in denominations of 25, 50, 100, 250, and 500 manats.

You can find banknotes in various denominations, including 25, 50, 100, 250, and 500 manats, which were issued by the Democratic Republic.

A commemorative banknote, the ₼500, was introduced in 2021 to mark a special occasion. The Soviet Socialist Republic issued notes in denominations ranging from 5 to 5 million manats.

The Soviet Socialist Republic issued a wide range of banknotes, with denominations as high as 5 million manats.