The currency of Azerbaijan as an instrument of influence in the region

The national currency of Azerbaijan is manat. It has a symbolic designation on the world market AZN with currency code ISO 4217. The manat is divided into 100 qepiks, smaller national monetary units of a coin form, Used by the population of the country to calculate for cheaper goods. The cost of denominated manat is today the largest for the US dollar and is 1.28 USD for 1 AZN. The currency in Azerbaijan after the reform in 2006 has a fairly stable and high rate, but the US dollar and the Russian ruble are still quite popular on the outskirts of the state.

Nominal

To date, Azerbaijan uses monetary units of banknote and coinage form under the name of manat and gyapik, respectively. Currency of Azerbaijan Printed on high-quality paper with sizes from 120 X 70 mm to 155 X 70 mm and denominations of 1, 5, 10, 20, 50 and 100 units. Gyapiki is made with the use of brass, steel and copper in nominal value of 1, 3, 5, 10, 20 and 50 units. The appearance of the currency, which was fully used in Azerbaijan since 2007, was developed by the Austrian designer Robert Kalin.

History of Azerbaijani money

With the collapse of the Soviet Union and with the receipt on October 18, 1991 of Azerbaijan's independence of the young state, along with the coat of arms and the anthem, it was necessary to acquire national banknotes. However, due to industrial difficulties and other adverse events, until 1993, Azerbaijan was still using the Soviet ruble and the bank of Russia. Manat would be put into use on August 15, 1992. At the same time, coins of Azerbaijan - gyapiki were introduced. But until today, samples of the money of that time have not reached and were withdrawn from circulation in 2007. In 2005, the government decided to start a full-fledged denomination of national monetary units due to the large devaluation of the manat of that time. Then the currency of Azerbaijan thanks to Western designers got a modern look. And its release was partially implemented at the plants of the company De La Rue. The denomination was started on January 1, 2006, while the government of the state exchanged 5,000 old manats for 1 new one. Money of the previous sample was in circulation until January 1, 2007.

The Transcaucasian financial region

Stable The currency of Azerbaijan for today is quite a convenient way of accumulating the population's funds for the implementation of various costly programs for the development of the country. That, in turn, is an important factor for the newly formed state in the territory of the militant Transcaucasia. A competent financial policy for the benefit of the people is the way Azerbaijan is confidently moving today. Currency, Having a large purchasing power and possessing a certain level of confidence among the population, is one of the most important elements in the process of its social security. And the stable exchange rate in Azerbaijan is a guarantee that the society will function safely with a high level of development of science, medicine, education and decent wages - this is the future of modern civilization, to which all the states of the post-Soviet space seek.