Azerbaijan Currency 101: Explaining the Azerbaijani Manat

March 8th, 2023

What currency is used in Azerbaijan, you might ask? Whether you're a curious learner or a savvy traveler, you're in the right place. In this blog post, we take a deep dive into Azerbaijan money – the Azerbaijani manat. Not only will you get a crash course in its history, but also get to discover the hidden gems of the Azerbaijan currency and its current value.

Why does this all matter? Well, if you're planning a trip to Azerbaijan, you'll need to know what currency to bring. And, if you're a collector, investor, or trader, understanding the value of a country's currency is crucial to making smart financial decisions. So, the next time you find yourself daydreaming about far-off lands, brush up on the local currency. It might just save you a headache or two.

With that being said, let’s get started!

The Official Currency in Azerbaijan: Breaking Down The Azerbaijani Manat

Let's get down to the nitty-gritty of Azerbaijan's currency, shall we? So, what is the Azerbaijan currency? The official currency of Azerbaijan is the Azerbaijani manat (AZN), and it's abbreviated as ₼. That's right, the symbol for the AZN currency, the manat, is a funky little "₼" that looks like it's straight out of a sci-fi movie. Yup, there are some weird currency facts out there.

And, if you're a currency code fanatic, you'll be happy to know that the manat's ISO currency code is AZN, locally abbreviated as simply “m.” or “man.”. But what's really cool about the manat is that it's been the official currency of Azerbaijan since the country gained independence in 1992. So, while the manat may not be the most well-known currency in the world, it's certainly a symbol of Azerbaijani pride and resilience.

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From Barter to the Manat: The History and Evolution of Azerbaijani Currency

Before we dive into the Manat, let's take a quick trip down memory lane. Back in the day, the country's economy was largely based on agriculture, and the currency reflected that. In fact, the country has used a variety of different currencies over the years, including sheep, gold, and even tobacco. Yes, you read that right, tobacco. Thankfully, we've come a long way since then, and Azerbaijan money is no exception – it's gone through quite the evolution.

In the early 20th century, Azerbaijan became part of the Soviet Union, and the ruble became the official currency. But, when the country gained independence, it needed its own currency. And thus, the manat was born – it was first introduced in 1992 and has been the official Azerbaijan currency ever since. However, at first, the manat was printed in Russia, and it wasn't until 1993 that the first batch of Azerbaijani-manufactured manat was released.

But the manat wasn't exactly a stable currency at first. Hyperinflation and political turmoil led to the manat losing its value rapidly. To combat this, the government introduced a new manat in 2006, which was worth 5,000 old manats. And, just to make things even more confusing, the new manat was initially referred to as the "yeni manat," which means "new manat" in Azerbaijani.

Today, the manat is a generally stable currency that's widely accepted in Azerbaijan. But, it's still interesting to look back at the country's complicated currency history and see how far it's come.

Azerbaijan Money: The Manat Demystified

azerbaijani money in the black wallet

Now, let's get to the good stuff. What does the Azerbaijani Manat actually look like? Well, for starters, it's a beautiful piece of currency. The notes come in a variety of colors and feature important figures and landmarks from Azerbaijani culture.

But, what about the denomination structure? The manat is divided into 100 qəpik coins (gapik) (1 Manat = 100 Qəpik), and there are currently six different denominations of banknotes in circulation in total, each one featuring a unique design. In 2006, the manat was redenominated, which led to the introduction of a new set of coins into circulation in denominations of 1, 3, 5, 10, 20, and 50 gapiks. Now, let’s explore the colorful notes.

First up, we have the 1-manat note, which features a portrait of the great Azerbaijani poet Nizami Ganjavi. Next, there's the 5-manat note, which showcases the famous Maiden Tower, a landmark in the capital city of Baku. The 10-manat note features the Shirvanshahs' Palace, another iconic building in Baku.

Moving on up, we have the 20-manat note, which has a portrait of the esteemed Azerbaijani composer Uzeyir Hajibeyli. The 50-manat note features a portrait of the famous Azerbaijani writer and thinker Mirza Fatali Akhundov. And last but not least, we have the 100 manat note, which showcases the country's first president, Heydar Aliyev.

All of the banknotes feature intricate designs, beautiful color schemes, and high-quality security features to prevent counterfeiting. So, whether you're an art lover, a history buff, or just a fan of cool-looking money, the Azerbaijani manat banknotes are definitely worth checking out.

Value of the Azerbaijani Manat & Azerbaijan Exchange Rates: Azerbaijan Currency to USD

We all know that the value of a country's currency can fluctuate wildly. So, where does the Azerbaijan currency stand today? Well, it's not the strongest currency out there, but it's also not the weakest. Did you know that the manat is pegged to the US dollar? That means its value is directly tied to the dollar's value. Cool, huh?

The value of the Azerbaijani manat has remained relatively stable over the past few years, and it's currently trading at around 1.7 manats to 1 US dollar. Of course, there are a variety of factors that can affect the value of the manat, including political instability, inflation, and international trade. But, we'll leave the manatonomics lesson for another day.

You can always sign up for our exchange alerts to keep track of Azerbaijan exchange rates and the value of your Azerbaijan money to reduce any risk.

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And, there you have it – the Azerbaijan currency, manat, in a nutshell.

Not only have you learned about the history and characteristics of the manat, but you also have a better understanding of its value in the global market. And, if you're planning a trip to Azerbaijan, you'll need some Azerbaijani money to get by. It's important to note that the manat is not a widely traded currency, so you may have a hard time finding it at your local bank or currency exchange.

Luckily, we specialize in buying and selling exotic currencies. At US First Exchange, exchanging Azerbaijan money is as simple as it gets, as we’re here to help you access the world’s currencies at the most competitive rates and deliver them straight to your door if needed. Whether you’re an investor, traveler, or collector, have peace of mind knowing your Azerbaijani manat is safe with our secure online platform and insured shipping options.

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