Azerbaijani Manat
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Supported exchanges
About the coin
The Azerbaijani Manat (AZN) is the national currency of Azerbaijan. It is issued by the Central Bank of the Republic of Azerbaijan.
The AZN is the sole legal tender in Azerbaijan, and it is used for all transactions within the country. The currency's name, 'Manat,' is derived from the Latin word 'moneta,' which means 'coin.'
The Azerbaijani Manat was reintroduced as the national currency on January 1, 1994, following the dissolution of the Soviet Union. Prior to its reintroduction, Azerbaijan used the Soviet Ruble.
The Central Bank of the Republic of Azerbaijan is responsible for the issuance and management of the AZN. It plays a crucial role in maintaining the stability of the currency and implementing monetary policy.
The AZN is not a cryptocurrency and operates within the traditional financial system. Its value is determined by factors such as economic performance, inflation rates, and the country's balance of payments.
The currency exists in both physical (banknotes and coins) and digital forms within the conventional banking system. It is not issued on any blockchain or distributed ledger technology.
The symbol for the Azerbaijani Manat is AZN, and it is commonly used in financial contexts and transactions. The ISO 4217 code for the currency is AZN.
The Azerbaijani Manat is part of the FIAT monetary system, indicating that its value is backed by the government that issues it, rather than by a physical commodity like gold or silver.
The currency has a defined number of decimals, which is 8. This indicates the smallest divisible unit of the Manat, similar to how cents divide a dollar.
Unlike many digital assets, the AZN does not have a specific token standard like ERC-20 or BEP-20, as it is not a token on a blockchain.
The contract address for the AZN is not applicable, as it is a fiat currency and not a digital token deployed on a blockchain network.
The status of the Azerbaijani Manat is 'active,' meaning it is currently in circulation and functioning as the official currency of Azerbaijan.
The Azerbaijani Manat's journey reflects the economic transitions and development of Azerbaijan as an independent nation.
Understanding the AZN is essential for anyone engaging in economic activities or financial dealings within Azerbaijan.
It represents the sovereign financial power and economic identity of the Republic of Azerbaijan.
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