The Azerbaijan Manat (AZN) is the money used in Azerbaijan. Knowing about it is important, especially if you’re visiting the country or learning about how different currencies work. 

The Manat is special because its design shows parts of Azerbaijan’s history and culture, making it more than just money. 

Read on to learn all about Azerbaijan Manat currency.

What is Azerbaijan Manat (AZN)

The Azerbaijan Manat (AZN) is the official currency of Azerbaijan. Similar to the U.S. dollar and euro, the manat serves as a medium for purchasing goods, paying for services, and conducting trade in Azerbaijan.

The Central Bank of Azerbaijan issues and regulates it, determining its exchange rate and actively intervening in the foreign exchange market to manage its value.

History of the Azerbaijan Manat

The Azerbaijan Manat (AZN) has a history that reflects the country’s economic development. The current version of the manat was introduced in 2006 to replace the old manat. 

The old manat had been heavily affected by inflation, making it less valuable. To fix this, the Central Bank of Azerbaijan launched a new manat at a rate of 5,000 old manat for 1 new manat. 

This change restored confidence in the currency and made it easier for people to use.

The name “manat” itself comes from the Latin word “moneta,” which means “money.” This highlights the longstanding role that currency has played in trade and economics throughout history.

Symbol of the Azerbaijan Manat 

The Azerbaijan Manat (AZN) is represented by the symbol ₼, much like the dollar is symbolized by $ or the euro by €.

This symbol appears in financial transactions and prices in Azerbaijan. If you see ₼ before a number, it indicates the amount is in manats.

The unique symbol helps easily identify the currency in local and international contexts, particularly in trade and financial reporting.

For example, a shirt that costs ₼20 in a store means it’s priced at 20 Azerbaijan manats.

Subunit of the Manat

The Azerbaijan Manat (AZN) is divided into smaller units called qəpik, which function like cents in the U.S. dollar or pence in the British pound. One manat is equal to 100 qəpik. This makes it easier to pay for items that cost less than a full manat. 

For example, if something costs ₼1.50, this means it’s one manat and 50 qəpik.

Coins come in various qəpik denominations, allowing people to give exact change for small purchases like snacks or bus tickets.

Banknotes and Coins of the Azerbaijan Manat

The Azerbaijan Manat (AZN) comes in both banknotes (paper money) and coins. Each has a specific value, and they are used in everyday transactions.

Banknotes of the Azerbaijan Manat

The banknotes of the Azerbaijan Manat (AZN) come in various denominations, each with its unique color and design that represents important aspects of Azerbaijan’s culture and history.

1 manat: This note is light blue and features designs that symbolize Azerbaijan’s identity and heritage.

5 manats: Colored in brown, this note has symbols that reflect the country’s artistic and cultural achievements.

10 manats: This note is green and highlights Azerbaijan’s economic development and natural resources.

20 manats: With a yellow design, the 20-manat note represents advancements in science and education in Azerbaijan.

50 manats: The purple 50-manat note includes elements that celebrate the country’s rich history and architectural achievements.

100 manats: This blue and pink note is particularly significant, featuring the image of the Maiden Tower, a famous landmark in Baku. 

200 manats: The highest denomination, this note is dark purple and is associated with Azerbaijan’s modern achievements and future potential.

Coins of the Azerbaijan Manat

The coins used in Azerbaijan are known as qəpik and are available in several denominations. Each coin has a unique appearance, making it easy to distinguish based on its size, color, and material.

1 qəpik: This coin is the smallest and copper-colored, making it perfect for small purchases like candy or snacks.

3 qəpik: Slightly larger than the 1 qəpik, this copper-colored coin serves a similar purpose for low-value transactions.

5 qəpik: This bronze-colored coin is larger and often facilitates daily transactions.

10 qəpik: Silver-colored, this coin frequently appears in regular purchases and stands out due to its distinctive shine.

20 qəpik: With a gold-colored ring around a silver center, this coin features a unique design that makes it easy to identify.

50 qəpik: As the largest and most valuable of the coins, the gold-colored 50 qəpik plays a key role in higher-value transactions.

The Role of the Manat in Azerbaijan’s Economy

The Azerbaijan Manat plays a crucial role in the country’s economy.

People use it for almost all financial transactions, whether they are buying goods in markets, paying for services like electricity, or engaging in business deals.

The manat also plays a crucial role in international trade, as Azerbaijan exports oil and gas, and many of these transactions utilize the currency.

The Central Bank of Azerbaijan controls the supply of manat to keep the economy stable, adjusting interest rates and monitoring inflation to ensure the currency keeps its value. 

By managing the manat carefully, the bank helps to maintain the purchasing power of the people and businesses in Azerbaijan.

The manat also affects foreign exchange. Travelers and businesses working with Azerbaijan must exchange their money into manats to pay for goods and services within the country. 

Countries Accepting the Azerbaijani Manat

Azerbaijan uses the Azerbaijani Manat (AZN) as its official currency, and people widely use it throughout the country. However, outside of Azerbaijan, merchants do not commonly accept the Manat as legal tender.

This means other countries do not typically accept the Azerbaijani Manat for direct transactions.

When traveling outside Azerbaijan, you typically need to exchange your manat for the local currency.

However, in neighboring countries like Turkey or Russia, some currency exchange services, especially in airports or major financial centers, may accept the Azerbaijani Manat.

It’s best to convert your manat into more widely accepted currencies, such as the US dollar, before leaving Azerbaijan to avoid difficulties with transactions.

Amount in the Azerbaijani Manat You Should Carry for Your Trip

The amount you should carry depends on your trip’s length, spending habits, and whether you plan to use cash or a card.

For a week-long trip, carrying around ₼300–₼500 (300-500 AZN) should suffice for meals, transportation, and small purchases, depending on your spending style. If you plan to dine out often, shop, or take tours, consider bringing more.

While Azerbaijan, especially in cities like Baku, accepts cards in many places, cash is preferred for smaller purchases, markets, and transportation.

Make sure to have some cash on hand, especially if you’re traveling to more rural areas.

Conclusion

The Azerbaijan Manat (AZN) is much more than just the official currency of Azerbaijan. Its unique designs reflect the country’s rich culture, history, and progress. 

Colorful banknotes and distinctive coins play a crucial role in daily life and economic activities in Azerbaijan.

Knowing the manat is vital for anyone visiting or doing business in the country, as it aids in navigating purchases and trade.

From everyday transactions to significant business deals, the manat ensures a smooth economy and connects Azerbaijan to the global financial system.