azn

AZN is the ISO 4217 currency code for the Azerbaijani manat, the national currency of Azerbaijan. The manat is issued by the Central Bank of Azerbaijan and serves as the legal tender for most everyday transactions in the country. The currency is commonly represented by the symbol ₼, though the code AZN is used in financial markets, pricing, and international reporting. The manat is subdivided into 100 qəpik (also spelled qapik), the subunit used for smaller amounts. Coins circulate in lower denominations, while banknotes cover higher values.

History and redenomination: Azerbaijan introduced the manat in the early 1990s after gaining independence from the Soviet Union, replacing the ruble at a high exchange rate. In 2006, Azerbaijan redenominated the currency, issuing the current manat under the code AZN; 1 AZN was set equal to 10,000 of the former manat (AZM). This redenomination aimed to simplify pricing and monetary calculations.

Issuance and use: The Central Bank of Azerbaijan regulates the manat, controlling monetary policy, issuance of banknotes and coins, and the money supply. The AZN is used primarily within Azerbaijan for domestic transactions and as the unit of account for many financial instruments. It is also exchanged in international markets, with its value influenced by broader macroeconomic factors, including oil revenues and global trading conditions.

See also: Azerbaijani manat, Central Bank of Azerbaijan, ISO 4217.