Foreign Exchange Guide to Azerbaijan
In this guide we review :
- Azerbaijani manat info - general info about the Azerbaijani manat
- Travelling in Azerbaijan - currency & money saving tips
- Buying Azerbaijani manat cash online - travel money for Azerbaijan
- Sending money to Azerbaijan - save on Azerbaijani manat bank transfers to Azerbaijan
- Azerbaijani manat exchange rates - latest info & charts.
Azerbaijani manat (AZN) general currency information
Azerbaijan currency and money saving tips
Azerbaijan’s national currency is the Manat, divided into 100 gapiks (q) with coins available in 10q, 20q and more rarely 50q denominations. The manat is written with a M symbol that looks like the Euro E swivelled through 90 degrees.The official language is Azerbaijani, the country was a well-known tourist spot in the 1980s. However, the fall of the Soviet Union, and the Nagorno-Karabakh War during the 1990s, damaged the tourist industry and the image of Azerbaijan as a tourist destination.It was not until the 2000s that the tourism industry began to recover, and the country has since experienced a high rate of growth in the number of tourist visits and overnight stays. In the recent years, Azerbaijan has also becoming a popular destination for religious, spa, and health care tourism. During winter, the Shahdag Mountain Resort offers skiing with state of the art facilities.
A large number of banks offer exchange services. Especially in central Baku you can find remarkably low buy-sell rate splits for Euros, Pounds, Roubles and especially US Dollar cash. Reconverting any extra mantas back to dollars or Euros is not problematic. Rates at hotels tend to be significantly poorer. Cash machines are widespread throughout central Baku and increasingly common all across Azerbaijan with at least one ATM in even the smallest regional centre.Few cities in the world are as safe as Baku. Petty crime is minimal. Locals with bulging wallets sticking out of a rear pocket seem blissfully unconcerned getting onto a packed full public bus.
Azerbaijan Trip Checklist
Travel money for Azerbaijan
Save money and time by Ordering your Azerbaijani manat online from Travelex, you get better rates and can pick up the AZN cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Azerbaijani manat otherwise you may get much worst exchange rates.
Sending money to Azerbaijan
When sending money to Azerbaijan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Azerbaijani manat amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted AZN amount will be transfered to the recipient account you specify in Azerbaijan.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Azerbaijani manat deposited into the recipient bank account in Azerbaijan and less margins and fees kept by the banks!