The Azerbaijani Manat is the official currency of Azerbaijan. The word "manat" is derived from the Russian word for coin. One Manat is divided into 100 qapik. Banknotes are issued in denominations of 1, 5, 10, 20, 50, 100, and 500 Manat. Coins are available in 1, 3, 5, 10, 20, and 50 qapik. The symbol for the Manat is ₼, although a lowercase "m" is often used as a simpler and more globally recognized alternative.
From 1919 to 1923, the first Manat was introduced as the currency of Azerbaijan, circulating alongside the Russian Ruble with bilingual denominations. Initially, only banknotes were issued. In 1992, after gaining independence, Azerbaijan launched the second series of the Manat, fully separating from the Russian Ruble. Coins were introduced only in the third issuance in 2006.
The Manat symbol was created in 2006 by Austrian designer Robert Kalina, inspired by the Euro symbol (€). The Manat symbol (₼) resembles the Euro sign rotated 90 degrees clockwise.
