Azerbaijani manat
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The manat (currency code: AZN) is the currency unit of Azerbaijan. 1 Azerbaijani manat equals 100 qəpik.
History
For earlier Azeri currency, see Azeri ruble.The word manat is borrowed from the Russian word "монета" (coin) which is pronounced as "maneta". Manat was also the designation of the Soviet ruble in both Azerbaijani language and Turkmen.
The old manat was introduced in 1992, replacing the Russian ruble at a rate of ten rubles to one old manat. From early 2002 to early 2005, the exchange rate was fairly stable (varying within a band of 4770–4990 manat per US dollar). Starting in the spring of 2005 there was a slight, but stable increase in the value of the manat against the US dollar; the reason most likely being the increased flow of petrodollars into the country, together with the generally high price of oil on the world market. At the end of 2005, one dollar was worth 4591 old Azerbaijani manats (AZM).
With effect from 1 January 2006, the new manat (AZN) was created at the rate of 1 new manat (or manat (national currency)) (AZN) = 5000 old manats (AZM). One US dollar is currently (as of 2006) worth 0.918 Azerbaijani manats. Since 1 October 2005 prices have been indicated both in new manats and in old manats to ease transition. Coins denominated in qəpik, which had not been used from 1993 onwards due to inflation, have been reintroduced with the redenomination.
Coins and Banknotes
Prior to the redenomination, the following banknotes were in circulation: [link]
- 1, 5, 10, 250 manats (all first issued in 1992)
- 50, 100, 500, 1,000 manats (all first issued in 1993)
- 10,000 manats (first issued in 1994)
- 50,000 manats (first issued in 1996)
The following pieces of currency were issued on 1 January 2006: [link]
Coins:
1, 3, 5, 10, 20 and 50 qəpiks (the latter being bimetallic, similar to the €2 coin)
Banknotes:
1, 5, 10, 20, 50, 100
The banknotes have been designed by the Austrian currency designer Robert Kalina, who is also responsible for the current look of the euro banknote. The banknotes look quite similar to the euro banknotes, and the choice of motifs was inspired by the euro banknotes.
The 1 manat banknote symbolizes Azerbaijan's rich traditional and modern culture. It depicts images of Azerbaijani folk musical instruments on the obverse, ornaments of ancient Azerbaijani carpets on the reverse.
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The 5 manat banknote symbolizes Azerbaijan’s valuable contribution to the world literature. On the obverse, it depicts ancient writers, poets, and books from Azerbaijan, while the reverse pictures rock drawings of Qobustan, samples of Orkhon script and letters from the contemporary Azerbaijani alphabet.
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The 10 manat banknote symbolizes Azerbaijan’s ancient traditions of statehood and its rich history, depicting images of old Baku, the Palace of the Shirvanshahs and the Maiden Tower against a background of the Icheri Sheher wall on the obverse; on the reverse, ornaments of ancient Azerbaijani carpets and a map showing Azerbaijans integration into Europe can be seen.
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The 20 manat banknote symbolizes the major goal of current Azerbaijani foreign policy, the territorial integrity of Azerbaijan – i.e., the Nagorno-Karabakh issue with Armenia. On the obverse, signs of power are displayed (a sword, a helmet and a shield), while the symbol of peace (harybulbul) is depicted on the reverse, once again together with the map also shown on the 10 manat banknote.
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The 50 manat banknote symbolizes Azerbaijan's education and its future, displaying youth, stairs (as a symbol of progress), the sun (as a symbol of force and light) and chemical and mathematical symbols (as signs of science) on the obverse, while the reverse once again shows the common features of Azerbaijani carpet ornaments and the European map.
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Finally, the 100 manat banknote symbolizes Azerbaijan's economic development and its status as a flourishing nation. Architectural symbols from antiquity up to today, the manat currency symbol (a stylicized M) and symbols of economic growth are displayed on the obverse, while the common features (carpets and map) are shown on the reverse.
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See also
External links
| Currencies of Europe | |
|---|---|
| Eurozone
| Euro |
| Northern
| Danish krone > Faroese króna | Icelandic króna | Norwegian krone | Swedish krona |
| Baltic
| Estonian kroon > Latvian lats | Lithuanian litas |
| Western
| British pound | Guernsey pound | Jersey pound | Manx pound |
| Central
| Czech koruna > Hungarian forint | Polish złoty | Slovak koruna | Slovenian tolar | Swiss franc |
| Eastern
| Belarusian ruble > Kazakhstani tenge | Russian ruble | Ukrainian hryvnia |
| Southeastern
| Albanian lek > Bulgarian lev | Bosnia and Herzegovina convertible mark | Croatian kuna | Macedonian denar | Moldovan leu | Romanian leu | Serbian dinar |
| Mediterranean
| Cypriot pound > Gibraltar pound | Maltese lira | Turkish new lira |
| Transcaucasia
| Armenian dram > Azerbaijani manat | Georgian lari |
| Unrecognized Countries
| Transnistrian ruble |
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