Currency Information on Azerbaijani Manat
Currency Information on Azerbaijani Manat - AZN — Azerbaijani Manat – m.
Prices in Azerbaijan are displayed in both old manat and new manat; this is to ease the transition from old manat to new manat, which was introduced at a ratio of 5,000 old manat to 1 new manat. Robert Kalina is responsible for the design of the manat coins and banknotes in circulation.
He also designed the Euro notes and coins, which is why the manat currency so closely resembles euro coinage and banknotes. New notes were issued in Azerbaijan in 2009 after the National Bank of Azerbaijan was renamed Azərbaycan Mərkəzi Bankı – Central Bank of Azerbaijan.
Current coins in circulation are; 1, 3, 5, 10, 20, 50 qəpik, one manat is equal to 100 qəpik. Banknote denominations available are; 1, 5, 10, 20, 50, 100 manat.
Larger denominations of banknotes were considered by the Central bank of Azerbaijan, but they announced in 2013 that these would not be issued until at least 2014; no further announcements have been made on the issue.