Azerbaijani manat

Manat

Azərbaycan manatı (Azerbaijani)
₼1 banknote obverse Azerbaijani gapik coins
ISO 4217
Code	AZN (numeric: 944) before 2006: AZM, AYM
Subunit	0.01
Unit
Unit	manat
Plural	The language(s) of this currency do(es) not have a morphological plural distinction.
Symbol	₼‎
Denominations
Subunit
1⁄100	Gapik
Banknotes
Freq. used	₼1, ₼5, ₼10, ₼20, ₼50, ₼100, ₼200
Rarely used	₼500
Coins	1, 3, 5, 10, 20, 50 gapiks
Demographics
Replaced	Soviet ruble
User(s)	Azerbaijan
Issuance
Central bank	Central Bank of Azerbaijan
Website	www.cbar.az
Valuation
Inflation	8.8%, December 2023
Source	[1]

The manat (ISO code: AZN; sign: ₼; abbreviation: m) is the currency of Azerbaijan. It is subdivided into 100 gapiks.

The first iteration of the currency emerged in the Azerbaijan Democratic Republic and its successor, the Azerbaijan Soviet Socialist Republic, with the issues happening in 1919–1923. The currency underwent hyperinflation, and was eventually substituted by the Transcaucasian ruble, which, in its turn, was converted to the Soviet ruble.

When Azerbaijan gained independence from the Soviet Union, it substituted the Soviet ruble with the manat, which also went through a period of high inflation in the first years, rendering the coinage obsolete. The current manat in circulation exists since the redenomination in 2006, when old manats (AZM) were substituted with lower face values and new design. The currency has mostly been pegged to the US dollar, at what is now the rate of ₼1.70 to US$1.

The Azerbaijani manat symbol was added to Unicode as U+20BC ₼ MANAT SIGN in 2013. A lowercase m was used previously, and may still be encountered when the manat symbol is unavailable.