The Azerbaijani Manat (AZN) has a rich history that reflects Azerbaijan’s journey towards independence and economic development. The word ‘manat’ has its roots in the Russian language, deriving from the term “moneta,” meaning coin. This term was historically used for currency units in several Soviet states, including Azerbaijan during its Soviet era, where the manat was pegged to the Soviet ruble.

Post-Soviet independence in 1991, Azerbaijan introduced its own manat, but it wasn’t until the 2006 currency reform that the new manat (AZN) emerged, simplifying the system by converting 5,000 old manat to 1 new manat. This reform came alongside new coinage and banknotes that feature Azerbaijani cultural motifs and significant landmarks, underscoring the country’s unique cultural heritage and its swift modernization efforts.