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LOCAL CURRENCY IN AZERBAIJAN

Need to know waht is the local currency in Azerbaijan? The money used in Azerbaijan is called Manat.

The Azerbaijani Manat is issued and managed by the Central Bank of Azerbaijan. To find out the current currency exchange rates for Manat to other major currencies of the world, click on foreign currency rates.

Azerbaijani Currency Information
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The currency used in Azerbaijan is called as the Manat. This currency is denoted with the currency sign m, man. and the ISO 4217 Code for the Azerbaijani Manat is AZN. The Manat, is the official currency of the Azerbaijan . It is divided into 100 smaller units called q?pik.

The constitution of Azerbaijan provides that the Azerbaijan government shall have the power to print the Azerbaijani Manat and q?pik coins to be used as a legal tender in Azerbaijan. The Azerbaijani Manat bank notes and Q?pik coins are both designated as "legal tender" in payment of debts.

The Azerbaijani Manat bill uses the decimal system, consisting of 100 equal units.

The symbol m, man., usually written before the numerical amount, is used for the Azerbaijani Manat.

Currently printed bank notes denominations are 1, 5, 10, 20, 50, 100 manat and the coins are minted in the denominations of 1, 3, 5, 10, 20, 50 q?pik .

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The Effect of Balance of Trade and Investment on Azerbaijani Manat
Financial analysts regularly cite the balance of trade and investment in Azerbaijan as the most important influence on the value of the Manat. The difference between what the Azerbaijan exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Manat exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Manat exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Azerbaijani Manat.
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