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ITC
ITC
swap
AZN
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About Azerbaijani Manat (AZN)

Azerbaijan's official currency is the Manat (AZN), which is commonly abbreviated as AZN and represented by the symbol ₼. The Manat is comprised of 100 qəpik, which are smaller units of currency.

Historical Background

The original Azerbaijani Manat was first issued in 1919 but was replaced by the Soviet Ruble in 1923. The reintroduction of the Manat in 1992 was a significant step in post-Soviet Azerbaijan’s economic transformation. It signified the nation's departure from the Soviet economic system and was instrumental in laying the foundation for an independent monetary policy.

Design and Symbolism

The design of the Azerbaijani Manat incorporates elements that reflect Azerbaijan’s history, culture, and economic aspirations. Banknotes and coins feature prominent Azerbaijani figures, architectural landmarks, and symbols representing the country's rich cultural heritage and natural resources. These designs serve not only as a medium for financial transactions but also as reminders of the nation's unique identity and pride.

Economic Role

The Manat plays a central role in Azerbaijan’s economy, which is heavily influenced by oil and natural gas production. As the primary currency, it underpins the energy sector, which dominates the economy, and facilitates other key sectors like agriculture, manufacturing, and tourism. The stability of the Manat is crucial for the country's economic health and investor confidence.

Monetary Policy and Stability

Managed by the Central Bank of Azerbaijan, the Manat has experienced various challenges, including inflation and currency devaluation. The bank's monetary policies aim to stabilize the currency, control inflation, and foster a healthy economic environment conducive to growth and investment.

International Trade and the Azerbaijani Manat

In international trade, the stability of the Manat is crucial, particularly for Azerbaijan’s oil and gas exports. A stable Manat is vital for maintaining competitive prices in global markets and for managing the import of goods and services.

Remittances and Economic Impact

Remittances from Azerbaijanis living abroad, particularly in Russia, Turkey, and Europe, are a significant source of foreign income. These remittances, converted into Manats, support families and contribute to the national economy, providing a vital economic buffer.

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1D7D1M3M1YAll
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Bitgethot-iconcalculator.compare.best
₼0.006814
0.0200% / 0.0320%vip-iconcalculator.compare.vip
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$0
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$43.15K
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0 ITC

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0.5 ITC
0.003435
1 ITC
0.006871
5 ITC
0.03435
10 ITC
0.06871
50 ITC
0.3435
100 ITC
0.6871
500 ITC
3.44
1000 ITC
6.87

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0.5AZN72.77  ITC
1AZN145.54  ITC
5AZN727.71  ITC
10AZN1,455.42  ITC
50AZN7,277.09  ITC
100AZN14,554.18  ITC
500AZN72,770.92  ITC
1000AZN145,541.83  ITC

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0.5 ITC$0.002021$0.002049
-1.40%
1 ITC$0.004042$0.004099
-1.40%
5 ITC$0.02021$0.02049
-1.40%
10 ITC$0.04042$0.04099
-1.40%
50 ITC$0.2021$0.2049
-1.40%
100 ITC$0.4042$0.4099
-1.40%
500 ITC$2.02$2.05
-1.40%
1000 ITC$4.04$4.1
-1.40%

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0.5 ITC$0.002021$0.002524
-20.08%
1 ITC$0.004042$0.005048
-20.08%
5 ITC$0.02021$0.02524
-20.08%
10 ITC$0.04042$0.05048
-20.08%
50 ITC$0.2021$0.2524
-20.08%
100 ITC$0.4042$0.5048
-20.08%
500 ITC$2.02$2.52
-20.08%
1000 ITC$4.04$5.05
-20.08%

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0.5 ITC$0.002021$0.001155
+76.14%
1 ITC$0.004042$0.002310
+76.14%
5 ITC$0.02021$0.01155
+76.14%
10 ITC$0.04042$0.02310
+76.14%
50 ITC$0.2021$0.1155
+76.14%
100 ITC$0.4042$0.2310
+76.14%
500 ITC$2.02$1.16
+76.14%
1000 ITC$4.04$2.31
+76.14%

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