The power of the Manat

The Azerbaijani Manat has been in use since August 1992. It was then that it replaced the soviet Ruble, which had been in circulation for a long time. A few years later, the elderly still used to convert prices into the “old currency, measuring everything with rubles.

The Manat was “cheap at that time. For example, a “Snickers bar cost 1,000 AZN. However, after the new denomination was created in 2007 and the national currency became stable for a quite long time, when Azeris were asked by foreigners to convert a value in Manats into another currency, they said with pride: “Oh, the Manat is approximately the value of one Euro.  A Manat banknote bears a pleasant resemblance to the Euro, since the design of both currencies has been conceived by one and the same Austrian designer, Robert Kalina.

Today, the Manat has slightly lost its strength due to the fluctuations in oil prices. However, many wonderful things can still be bought for 1 AZN.

Published 28.04.2016