Exploring Baku: The Currency Of Azerbaijan's Capital

Baku is the capital of Azerbaijan, a country that was once part of the Soviet Union. The currency used in Baku is the Azerbaijani manat, which is the official legal tender in Azerbaijan. The manat is subdivided into 100 qapik/gapiks and its symbol is AZN. The word manat is derived from the Latin word monēta, meaning coin. The currency has mostly been pegged to the US dollar at a rate of AZN 1.70 to USD 1.

The currency of Baku, Azerbaijan, is the Azerbaijani manat (AZN)

The currency of Baku, Azerbaijan, is the Azerbaijani manat, which is abbreviated to AZN and represented by the symbol ₼. The manat is the official, legal tender in Azerbaijan, recognised by the Azerbaijani government, and the only currency that is officially accepted in the country.

The manat is subdivided into 100 qapik (or gapik) and banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 200 and 500 manats. Coins in circulation include 1, 3, 5, 10, 20 and 50 qapik. The word 'manat' is derived from the Latin word 'monēta' and the Russian word 'монета' ('moneta'), both meaning 'coin'.

The first iteration of the currency was introduced in the Azerbaijan Democratic Republic and its successor, the Azerbaijan Soviet Socialist Republic, between 1919 and 1923. The currency was replaced by the Transcaucasian ruble, which, in turn, was converted to the Soviet ruble. When Azerbaijan gained independence from the Soviet Union, it replaced the Soviet ruble with the manat. The current manat has been in circulation since a redenomination in 2006, when old manats (AZM) were substituted with lower face values and a new design. The currency has mostly been pegged to the US dollar, at a rate of ₼1.70 to US$1.

The manat is divided into 100 qapik/gapiks

The manat is the official currency of Azerbaijan. It is subdivided into 100 qapik (also spelt gapik or qəpik). The ISO code for the manat is AZN and its symbol is ₼. The word "manat" comes from the Latin word "monēta" and the Russian word "монета" ("moneta"), both meaning "coin".

The first iteration of the currency was introduced in the Azerbaijan Democratic Republic and its successor, the Azerbaijan Soviet Socialist Republic, between 1919 and 1923. However, the currency underwent hyperinflation and was replaced by the Transcaucasian ruble, which was later converted to the Soviet ruble. When Azerbaijan gained independence from the Soviet Union, it replaced the Soviet ruble with the manat. The current manat has been in circulation since a redenomination in 2006, when old manats (AZM) were replaced with lower face values and a new design.

Coins in circulation are 1, 3, 5, 10, 20 and 50 qapik/gapik/qəpik. Most coins resemble the size and shape of various euro coins, particularly the bimetallic 50 qapik coin, which is similar to the €2 coin, and the 10 qapik coin, which looks like the 20-euro cent coin. The qapik coins were reintroduced with the 2006 redenomination, having not been used since 1993 due to inflation.

Pounds, US dollars and euros are easily exchanged in Baku

The official currency of Azerbaijan is the Azerbaijani manat (AZN). This is the only currency that is officially recognised by the Azerbaijani government, and therefore, the only currency that can be used to pay for goods and services in Baku.

However, if you are travelling to Baku from a country that uses pounds, US dollars, or euros, you will be able to easily exchange your currency for Azerbaijani manat. This can be done at most Baku banks or specialised foreign exchange stores. You may also be able to exchange your money at Baku airport, but the exchange rates may not be as favourable.

It is recommended that you research online currency brokers that offer foreign exchange services before your trip, as you may be able to purchase Azerbaijani manat at a more competitive rate. You can also purchase travellers cheques or consult your bank about foreign exchange transaction fees.

Major hotels, supermarkets, and restaurants in Baku usually accept credit cards, and there are ATMs available in most major towns and cities.

Credit cards are accepted in major hotels, supermarkets and restaurants

Baku, the capital of Azerbaijan, uses the country's official currency, the Azerbaijani manat (AZN). While credit cards are accepted in major hotels, supermarkets, and restaurants in Baku, it is always a good idea to carry the local currency with you.

Credit cards are a convenient option for travellers, offering a secure and contactless way to pay for goods and services. Baku's major hotels, supermarkets, and restaurants are well-equipped to accept credit card payments, making it easier for visitors to manage their expenses. This is particularly useful for those who prefer not to carry large amounts of cash during their travels.

However, it is important to be cautious when using credit cards in a foreign country. Before your trip, be sure to notify your credit card company about your travel plans to avoid any unexpected blocks on your card due to anti-fraud measures. Keep a close eye on your transactions and report any suspicious activity to your credit card provider immediately.

Additionally, be mindful of foreign exchange transaction fees, as these can add up quickly. Consult with your credit card bank before your trip to understand their policies on foreign transactions and to explore options for cards with lower fees.

While credit cards are widely accepted in Baku's major establishments, it is still a good idea to carry some cash, particularly for smaller purchases, tipping, and emergencies. You can exchange your currency for Azerbaijani manat at banks or specialised foreign exchange bureaus, either before your trip or upon arrival in Baku.

By understanding the local currency and payment options in Baku, you can ensure that you have a smooth and enjoyable experience during your visit.

The best place to exchange currency is at a bank or specialised foreign exchange store

The currency used in Baku, Azerbaijan, is the Azerbaijani manat (AZN). If you're planning a trip to Baku, you'll need to exchange your currency for Azerbaijani manats. The best place to do this is at a bank or a specialised foreign exchange store.

You may be able to exchange your money at Baku Airport, but the exchange rates may not be favourable. It's a good idea to purchase Azerbaijani manats before you arrive in Baku. You can do this by researching online currency brokers that offer foreign exchange. You can also inquire about purchasing travellers' cheques.

Major hotels, supermarkets, and restaurants in Baku usually accept credit cards. There are ATMs in most major towns and cities. However, it's a good idea to take extra care when paying with credit cards or withdrawing money from ATMs, and let your credit/debit card provider know where you're going to avoid your card being blocked for anti-fraud reasons.

• Beware of 'zero-fee' services. These services often have hidden markups in the form of unfavourable exchange rates.
• Know the current exchange rate so that you can identify a bad deal.
• Avoid exchanging money at airports, hotels, or with street vendors. These exchanges often come with poor exchange rates and high transaction fees.
• Opt for local currency when using an ATM abroad. This will help you avoid undisclosed exchange rates and will usually be cheaper.

Frequently asked questions