Currency of Azerbaijan - Special Facts about Azerbaijani manat
The currency of Azerbaijan is Azerbaijani manat. 1 Azerbaijani manat can be further subdivided into 100 qəpik. The word ‘manat’ may have been derived from moneta (coin). The Azerbaijani manat had also been the designation of the Soviet ruble in the language of Azerbaijan and Turkmen.
The symbol of Azerbaijani manat is not encoded in the Unicode and in place of the symbol¸ m¸ man can be used to denote the Azerbaijani manat.
Currency of Azerbaijan - Azerbaijani manat coin Types and Banknote Types
Currency of Azerbaijan - First Manat¸ 1919-1923
The Azerbaijan Democratic Republic introduced the first Azerbaijani manat between the years 1919 and 1923. In Russian¸ it came to be known as ruble then. During that time¸ the denominations used to be written in Azeri and Russian and also in French on the banknotes.
When Azerbaijan became part of the Transcaucasian Soviet Federal Socialist Republic¸ the Azerbaijani manat got replaced with the Transcaucasian ruble.
Currency of Azerbaijan - Second Manat¸ 1992-2006
It was on 15th August 1992 that the second manat was introduced. This time¸ it came with the ISO 4217 code AZM. The second Azerbaijani manat also replaced the Soviet ruble and the exchange rate was 10 rubles to 1 manat.
The exchange rate of manat to US dollar had been fairly stable since its second introduction. However¸ the spring of 2005 saw an increase in the value of the manat mostly because of the flow of petrodollars into the country.
During the second issue of the Azerbaijani manat¸ banknotes were issued in the denominations of 5¸ 10¸ 20 and 50 qəpik. For the coins issued in 1992¸ brass and cupro-nickel were used; however¸ soon all the coins began to be made all in aluminium.
Currency of Azerbaijan - The banknotes that were issued were:
- 1¸ 5¸ 10¸ 250 manat (all first issued in 1992)
- 50¸ 100¸ 500¸ 1000 manat (all first issued in 1993)
- 10¸000 manat (first issued in 1994)
- 50¸000 manat (first issued in 1996)
Baku's Maiden Tower featured in the banknotes that had denominations from 1 to 250.
Currency of Azerbaijan - Third Manat¸ 2006 - till date
The second manat¸ which had the ISO code 4217 AZM was valid till 31 December 2006.
The new Azerbaijani manat was introduced on January 1st¸ 2006 with ISO 4217 code AZN. That is the current manat that we see today. The new manat had the value of 5¸000 old manat. Coins denominated in qəpik were reintroduced into the currency which had been stopped in 1993 due to inflation.
Currency of Azerbaijan - Coins
The third introduction of the all new Azerbaijani manat saw coins of denominations 1¸ 3¸ 5¸ 10¸ 20 and 50 qəpik circulating. The coins of lower denominations resembled size and shape of various euro cent coins.
Currency of Azerbaijan - Banknotes
The banknotes that were issued were of denominations 1¸ 5¸ 10¸ 20¸ 50 and 100 manat and were Austrian Robert Kalina who had designed the current euro banknotes as well. The Azerbaijani manat are more or less similar in look to euro; what’s more even the motifs of the banknotes are inspired by the euro banknotes.
Currency of Azerbaijan - Currency Exchange Rate to other World Famous Currencies like US¸ UK etc
As of February 18th¸ 2011¸ the currency exchange rates of Azerbaijani manat to the currencies of US and UK are:
1.00 USD = 0.794400 AZN
1.00 GBP = 1.28725 AZN
However¸ the values are floating¸ and the exchange rates always tend to change according to the money market trends.
Currency of Azerbaijan - Official website details of Azerbaijani manat:
You can check the official website for Azerbaijani manat at www.cbar.az for more detailed information on the currency of Azerbaijan.
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