Azerbaijani manat
₼
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 happened in the times of 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 rouble, which, in its turn, was converted to the Soviet ruble. In Soviet times, the common currency of the USSR was known as manat in the Azeri language.
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 denomination in 2006, when 5,000 old manat (AZM) were substituted with the new currency. 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 in 2013. A lowercase m was used previously, and may still be encountered when the manat symbol is unavailable.
The word "manat" is derived from the Persian word "munāt" and the Russian word "монета" ("moneta") meaning "coin". It was used as the name of the Soviet currency in Azeri (манат) and in Turkmen.
Country
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Azerbaijan
Azerbaijan (, ; Azərbaycan ), officially the Republic of Azerbaijan, is a transcontinental country located at the boundary of Eastern Europe and Western Asia. It is a part of the South Caucasus region and is bounded by the Caspian Sea to the east, Russia (Republic of Dagestan) to the north, Georgia to the northwest, Armenia and Turkey to the west, and Iran to the south. Baku is the capital and largest city.
The Azerbaijan Democratic Republic proclaimed its independence from the Transcaucasian Democratic Federative Republic in 1918 and became the first secular democratic Muslim-majority state. In 1920, the country was incorporated into the Soviet Union as the Azerbaijan SSR. The modern Republic of Azerbaijan proclaimed its independence on 30 August 1991, shortly before the dissolution of the Soviet Union in the same year. In September 1991, the ethnic Armenian majority of the Nagorno-Karabakh region formed the self-proclaimed Republic of Artsakh. The region and seven surrounding districts are internationally recognized as part of Azerbaijan pending a solution to the status of the Nagorno-Karabakh through negotiations facilitated by the OSCE, although became de facto independent with the end of the First Nagorno-Karabakh War in 1994. Following the Second Nagorno-Karabakh War in 2020, the seven districts and parts of Nagorno-Karabakh were returned to Azerbaijani control.