Azerbaijan Manat (AZN)

Azerbaijan Manat (AZN) is the official currency of Azerbaijan. It is subdivided into 100 qəpik. The Manat is issued and regulated by the Central Bank of Azerbaijan.

Introduced in 1992, the Azerbaijan Manat replaced the Soviet ruble as the country gained independence from the Soviet Union. In 2006, a new version of the Manat was introduced, with 1 new Manat being equivalent to 5,000 old Manat. This change was made to combat high inflation and stabilize the currency.

The Azerbaijan Manat is widely accepted and used for all commercial transactions within the country. It is also the currency used by tourists and visitors. The exchange rate of AZN can fluctuate based on market conditions and is determined by the Central Bank of Azerbaijan.

AZN banknotes are available in denominations of 1, 5, 10, 20, 50, and 100 Manat. There are also qəpik coins available, similar to cents or pence. The coins are available in denominations of 1, 3, 5, 10, 20, and 50 qəpik.

The Azerbaijan Manat plays a crucial role in supporting the country’s economic activities and international trade. However, it is important to note that the AZN is not a widely traded currency in international foreign exchange markets.

As with any currency, it is advisable to exchange money at authorized exchange offices or banks to ensure fair rates and avoid counterfeit notes.