About the Azerbaijani Manat
The current Azerbaijani Manat was introduced in 2006, replacing the previous manat at a rate of 1 new manat to 5,000 old manat. The re-denomination was part of a larger economic stabilization program.
The word 'Manat' is derived from the Russian word 'moneta' (монета), meaning 'coin'.
Interesting Facts
Euro-Inspired Design
The designs of the current manat banknotes were created by the same designer as the Euro banknotes, Robert Kalina, and feature similar motifs and a range of sizes.
Land of Fire
Many banknotes feature symbols of Azerbaijan's ancient history and its identity as the 'Land of Fire', such as petroglyphs and the Flame Towers in Baku.
Pegged and Floated
The manat was pegged to the U.S. dollar for a period, but the peg was removed in 2015, leading to significant volatility before stabilizing.
Historical Timeline
First manat introduced during the Azerbaijan Democratic Republic.
Second manat introduced after independence from the Soviet Union.
Third and current manat (AZN) is introduced.
The manat is devalued twice due to the fall in oil prices.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- AZN
- Symbol
- ₼
- Numeric Code
- 944
- Subunit
- Qəpik (1/100)
- Introduced
- 2006-01-01
Central Bank
- Name
- Central Bank of Azerbaijan
- Headquarters
- Baku, Azerbaijan
- Founded
- 1992
- Current Governor
- Taleh Kazimov (since 2022)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 1.7%
- Interest Rate
- 7.25%
Exchange Rates
What Affects the AZN Exchange Rate?
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